Samba Networks (formerly Samba Mobile) has closed a £250,000 ($377,000) angel round of investment from Digicel, Mark Charkin (formerly of King.com and Bebo), and other existing angels, followed its pivot last year.
The U.K. startup was founded back in 2010, as Samba Mobile, when it raised a chunk of cash for its initial business model, which consisted of offering consumers the carrot of free 3G in exchange for their eyeballs on video ads.
But by April last year it had sloughed off that business model and morphed into a b2b play, inserting its ad video player tech into others’ apps — providing a way for their users to earn credits for use within messaging platforms or earn mobile top ups and the like by watching ads.
The new angel round brings Samba’s total funding raised post-pivot to £400,000 ($603,000). CEO Ben Atherton tells TechCrunch its run rate revenue is now exceeding total pivot funding.