BGF Ventures leads $6.5m round in Tapdaq

Alice Murray
29 January 2016

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Tapdaq has raised $6.5m in a series-A round led by BGF Ventures and also featuring Balderton Capital, Spring Partners and Open Ocean Capital.

BGF invested via BGF Ventures, the £200m dedicated venture fund it launched last year. The deal come shortly after another investment from the fund, a $30m round for cloud communication business NewVoiceMedia.

The fresh funding adds to the company's $1.4m seed round in September 2014, which was led by Balderton and joined by Open Ocean and Ballpark Ventures alongside angel investors.

Company
London-based Tapdaq allows mobile developers to cross-promote apps. The service is aimed at developers with limited marketing budgets, enabling developers to trade ad installations with each other via its platform. Previously, the system worked by developers trading a virtual currency – daq – but this function has since been removed following community feedback.

The business was founded in 2012 and launched in mid-2013.

People
Tapdaq – Ted Nash, Dom Bracher, Nick Reffitt (co-founders).
BGF Ventures – Simon Calver (partner).