San Francisco-based Greystripe has raised $2 million in capital from Peacock Equity Fund, the venture arm of NBC Universal and GE, as part of the company’s third round raised in March. In total, Greystripe has raised $17.6 million.
Greystripe works with both publishers and advertisers in creating full page interstitial ads that takeover the phone’s whole screen and offer a Flash-like experience. So far, most of the ads are being used to subsidize the cost of games, which is how Greystripe initially hooked up with NBC Universal (NYSE: GE). A year and a half ago, it started distributing free, ad-subsidized mobile games through Bravo and Oxygen networks. As NBC continues to push into mobile, Greystripe says it will help monetize the networks’ apps and games.
Currently, Greystripe has 25 employees, but CEO Michael Chang said they plan to grow its sales force over the next year, who will be charged with calling on agencies and brands that want to the ad experience Greystripe offers. Chang: “For the past two years, they

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