Slide App, a lock screen app that awards Android users for reading content, has raised $3.6 million in series A round of funding led led by South Korean VC firm Songhyun Investment. The app had previously raised $1.2 Million in seed funding.
The platform plans to utilize the newly raised funds to scale its user base, develop products and strengthen its brand presence in the market. It will also use part of the funding to further develop the platform in order to make it more and more innovative and user-friendly. Slide App claimed to have amassed a download base of 5+ Million.
The mobile media platform incentivizes its users by awarding credit points everytime they read content customized to their preference. The reward points accumulated can then be further utilized for mobile recharges. It also doubles as new age advertising tool which allows it to cater successfully to the B2B segment.