Israeli firm Matomy said it has raised $1 million to launch its virtual payment widget for online games.
The Tel Aviv company has created the Engage Bar, a web-based virtual payment widget. The widget appears within an online game and can be timed to make an offer to buy virtual currency at the point when the user is just about to run out of it. Matomy’s testing has shown that the Engage Bar can result in a 43 percent increase in the acceptance of virtual currency offers, said the company’s chief executive, Erez Sadan.
Investors include Ilan Shiloah and Nir Tarlovsky. Shiloah is chairman of McCann Worldgroup, Israel, and a member of the board of McCann Erickson, Europe.
Users can choose to pay for virtual currency by accepting offers such as signing up for a Netflix subscription in exchange for virtual currency. Matomy has the ability to flag questionable offers, which is important in light of the offer scandal in social games last fall. Matomy’s users can help weed out any offers they don’t like. Matomy will have more than 3,000 offers for overseas customers. The service is targeting social network apps, online and free-to-play games, massively multiplayer online games, and online web sites. The Engage Bar can be adapted to be part of the user interface of a game or web site as needed.
There are various rivals out there, including Offerpal, Super Rewards, Sometrics and Peanut Labs. Matomy says it is growing revenues at a rate of 60 percent per quarter.
Customers include Ambergames. The company has 15 employees and was founded in 2009. Sadan has more than a decade of experience in advertising at companies such as Adsmarket and 888 Holdings.