Inneractive gets $3.5M to help mobile app developers make money

While the app boom has created a lot of opportunities for developers, making money off those apps is still a challenge for many developers. And that is creating more business for mobile ad and monetization startups, which are working to tap the potential of mobile and raise the revenue prospects of mobile developers.

Inneractive thas been on the front lines helping developers advertise in their apps by connecting to Inneractive’s mobile app monetization exchange, which connects in real time to 120 ad providers such as AdMob (s goog) and Jumptap. The company announced Tuesday that it has raised $3.5 million to expand its business globally and help more startups make their apps profitable. It plans to open offices in New York City, India and Singapore. The new investment was led by Evergreen Venture Partners along with new and existing private investors and brings Inneractive’s total funding to $8.5 million.

Inneractive lets developers connect to its exchange with an SDK that is just one line of code. That allows developers to match the right ads to its users using Inneractive’s network of ad providers in more than 200 countries. Inneractive has also been powering ad exchanges for developer communities such as Corona Labs, StackMob, LiveCode and others.

Israel-based Inneractive started out serving apps in Nokia’s Ovi Store (s nok) but has expanded to all the major smartphone platforms. It more recently raised $2.3 million in 2010 after launching in 2007. Inneractive competes with Smaato, which raised $7 million in January, Nexage, which just raised $15 million and Mobclix, which was acquired by Velti in 2010.