CAMBRIDGE, Mass.--(Jumptap, the leader in targeted mobile advertising, today announced the completion of a $27.5 million financing round. Existing investors including General Catalyst Partners, Redpoint Ventures, Summerhill Ventures, Valhalla Partners, and WPP; as well as two new investors -- Keating Capital and a large, institutional investor -- participated in the round. The capital will be used to accelerate growth through additional investments in product and technology development and prepare for a public offering.)--
“Under the direction of its innovative leadership team, Jumptap has emerged as a leader in the market.”
“Jumptap tackled the challenge of honing mobile ad targeting and understanding mobile audience, and it is flourishing on this path,” said John Simon, Chairman of the Board at Jumptap, Managing Director and Co-founder of General Catalyst Partners. “Under the direction of its innovative leadership team, Jumptap has emerged as a leader in the market.”
Over the past year, Jumptap has extended its industry-leading ability to target through partnerships with more than 20 third-party data providers such as Polk, Acxiom, Datalogix, TARGUSinfo, Catalyst, and i360, making Jumptap the first to bring offline data to mobile advertising. Additionally, the Company has forged partnerships with hyper-local leader PlaceIQ, and social ad service 140 Proof, to bring new targeting capabilities and a better understanding of mobile audience to the advertising community. Jumptap has experienced accelerated growth with significant increases in network traffic, ad campaigns and a deeper reach into major verticals such as automotive, retail, entertainment, consumer packaged goods and financial services. Each month Jumptap reaches 107 million mobile users in the U.S. and 156 million mobile users worldwide, and delivers 20 billion mobile impressions. The Company has also experienced a surge in the development of its technology patent portfolio, with 29 patents issued and 200 pending. To support its escalation, Jumptap has grown its employee base by 50 percent in 2011.
“The mobile advertising industry continues to grow at more than 50 percent annually. Jumptap is growing in excess of that,” said George Bell, CEO, Jumptap. “We’re focused on expanding our leadership in this surging market, developing our patented technologies in data and targeting, and preparing the company to go public.”
Goodwin Procter served as Jumptap’s outside counsel for the transaction.
Jumptap is the leader in targeted mobile advertising. Reaching 107 million mobile users in the U.S. and 156 million mobile users worldwide, Jumptap uses its extensive technology portfolio, as well as industry-first partnerships with third- party data providers, to understand mobile audiences better than any other ad network and provide intelligent targeting with scale. Through its large network of premium publishers and apps, and constant campaign optimization, Jumptap delivers the best ROI for advertisers and highest yield for publishers and developers. Jumptap has pioneered mobile advertising privacy standards and is committed to unlocking mobile opportunities for all parties through its ongoing industry research, such as its Understanding Mobile Audience series and monthly MobileSTAT report. Visit http://www.jumptap.com and http://www.jumptap.com/blog for more information; join our Facebook community, follow us on Twitter at @Jumptap and check out our latest ads at the Jumptap Ad Gallery http://www.jumptap.com/gallery.