Greystripe, maker of a software platform for developing ad-supported games for mobile phones, announced that it brought in $5.5 million in third-round funding from Incubic Venture Capital, Steamboat Ventures and Monitor Ventures.

The San Francisco, Calif. company has formed partnerships with several game developers in order to insert ads into their video games. Consumers can download these games for free, because ads provide the revenue, which is then split between Greystripe and its developers. It provides these games through its portal

In the past, the company has also received funds from Wilson Sonsini Goodrich & Rosati. It has raised a total of $15.5 million to date.

VentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative enterprise technology and transact. Discover our Briefings.