Sometrics
Web platform for publishers to market free-to-play online games and monetize virtual currency via consumer destination sites.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
| N/A | €0.0 | round | |
| N/A | €0.0 | round | |
| investor | €0.0 | round | |
$30.0m Valuation: $30.0m | Acquisition | ||
| Total Funding | 000k | ||
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Founded in 2007 by Ian Swanson and Matthew Gray, Sometrics emerged as a key player in the monetization of free-to-play online games. Swanson, serving as CEO, brought executive experience from roles at American Express and Sprint, later founding and exiting two other venture-backed companies, including DataScience.com, which was acquired by Oracle. This background in data analytics and enterprise solutions shaped Sometrics' strategic direction.
The company developed a sophisticated platform centered on virtual currency and in-game payments, carving out a niche by helping game publishers generate revenue beyond traditional methods. Its core product, GameCoins.com, provided a comprehensive solution for managing virtual economies. The platform's strength lay in its robust analytics tools, which allowed publishers to optimize payment processing and increase conversion rates among users. Sometrics offered a global payment infrastructure, supporting numerous payment options across more than 100 countries, including credit cards, mobile payments, and prepaid cards.
Sometrics secured initial funding of $2 million in May 2008, followed by a Series B round of $4 million in October 2009. Key investors included the Mail Room Fund, Steamboat Ventures, AT&T, and Greycroft Partners. This capital infusion fueled the expansion of its platform and market reach.
A significant milestone occurred in September 2011 when American Express acquired Sometrics for a reported $30 million. The acquisition was a strategic move for American Express to integrate Sometrics' virtual currency and analytics technology into its new digital payments and commerce platform, Serve. At the time of the acquisition, the Sometrics platform had managed over 3.3 trillion units of virtual currency for an audience of 250 million users.
Keywords: Sometrics, virtual currency, in-game payments, game monetization, fintech, payment processing, GameCoins, analytics platform, free-to-play games, American Express Serve, Ian Swanson, Matthew Gray, digital payments, online gaming economy, microtransactions, payment optimization, publisher tools, virtual goods, monetization solutions