Mobile Ad Network Jumptap Closes $25 Million Funding Round

Source: http://techcrunch.com/2011/05/05/mobile-ad-network-jumptap-closes-25-million-funding-round/

As we reported a month ago, mobile ad network JumpTap has raised a round of new funding. The company confirmed this today, announcing a $25 million financing round from AllianceBernstein, General Catalyst, Redpoint Ventures, Summerhill Ventures, Valhalla Partners and WPP, as well as several new investors, who are not being disclosed. This brings the company’s funding to over $90 million.

JumpTap is one of the largest remaining independent mobile advertising networks, in addition to Millennial Media, 4INFO, InMobi and others (another remaining network Greystripe was just acquired). Jumptap's data-driven technology promises highly targeted advertising and the company partners with digital and media agencies, publishers, wireless carriers and brand advertisers to serve an array of mobile advertising solutions.

Despite the heated competition in the mobile advertising space, JumpTap appears to be growing, both in terms of reach and employees. JumpTap says its network now reaches 83 million consumers, which is a 30 percent increase from last year. And the network has partnered with more than 10,000 sites and apps; received over 10 billion ad requests in April, and has over a dozen patents related to mobile ad technologies.

The company added 35 employees since the beginning of 2011 from companies including Apple, IAC, Time Inc, and Maxus. JumpTap also recently landed a deal with Tokyo-based cyber communications (cci).

George Bell, CEO of Jumptap said this in a statement: "Our focus on leading mobile innovation through technology and services underscores our long-term vision and commitment to delivering the best solutions for advertisers and publishers…We are well positioned to capitalize on the momentum in the mobile marketplace and continue to see impressive growth across all measures."

The company says the new investment will be used towards product and technology development, and to hiring additional staff to support client demand.

As we reported a month ago, mobile ad network JumpTap has raised a round of new funding. The company confirmed this today, announcing a $25 million financing round from AllianceBernstein, General Catalyst, Redpoint Ventures, Summerhill Ventures, Valhalla Partners and WPP, as well as several new investors, who are not being disclosed. This brings the company’s funding to over $90 million.

JumpTap is one of the largest remaining independent mobile advertising networks, in addition to Millennial Media, Greystripe, InMobi and others. Jumptap's data-driven technology promises highly targeted advertising and the company partners with digital and media agencies, publishers, wireless carriers and brand advertisers to serve an array of mobile advertising solutions.