CAMBRIDGE, Mass.--(BUSINESS WIRE)--Jumptap, the leader in targeted mobile advertising, today announced the completion of a $25 million financing round. Existing investors including AllianceBernstein, General Catalyst, Redpoint Ventures, Summerhill Ventures, Valhalla Partners and WPP, as well as several new investors, participated in the round. The capital will be used to accelerate company growth through product and technology development, and staffing to support increasing client demand.
“Jumptap is a strong and significant player in the world’s fastest growing new media,” said Scott Raney, General Partner, Redpoint Ventures, and member of Jumptap’s board. “The company has achieved scale and developed a market position around understanding mobile audiences, which we feel is very compelling. This vision, together with a superior leadership team, made this a tremendous investment opportunity for us."
Over the past 18 months, Jumptap has experienced accelerated growth with significant increases in network traffic, client ad campaigns and deeper reach into major verticals such as automotive, entertainment, consumer packaged goods and financial services. Each month the network reaches 83 million consumers, a 30% increase from last year. Additionally, Jumptap has expanded to partner with more than 10,000 sites and apps; and received over 10 billion ad requests in April. The company has experienced increased velocity in building its portfolio of technology patents, with more than a dozen already issued. The company has also signed rich media partnerships with leading players to accommodate increased demand for video, rich media and creative in-app formats.
To support this growth, Jumptap has added 35 employees thus far this year. CEO George Bell joined the company in September 2010; Chief Media and Revenue Officer Todd Anderman joined in January 2011. Additional recent hires on the publisher and client services teams include Regina Sebring who joined as Vice President of Publisher Partnerships from Audience Science; and Jared Hand, formerly of Gorilla Nation, who is now the Vice President of Sales. John Hadl, founder and CEO of Brand in Hand, recently joined the Advisory Board as well.
This late-stage funding further strengthens Jumptap’s leadership in the dynamic mobile ad sector.
“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,” said George Bell, CEO of Jumptap. “We are well positioned to capitalize on the momentum in the mobile marketplace and continue to see impressive growth across all measures.”
Jumptap is the leader in targeted mobile advertising. With an unmatched portfolio of technology patents, Jumptap’s data-driven solutions deliver the highest ROI for advertisers, and the best yield for publishers, across multiple platforms. The company partners with digital and media agencies, publishers, wireless carriers and brand advertisers, to deliver an array of mobile advertising solutions. For more information, visit www.jumptap.com or follow us on twitter.com/jumptap.