Valhalla Partners Leads $22M Series C Round in JumpTap
Funding to Enable Mobile Search and Advertising Pioneer to Expand into Additional Markets and Meet Growing Customer Demand
CAMBRIDGE, Mass.--(BUSINESS WIRE)--JumpTap, Inc., a pioneer in the development of innovative mobile search and advertising solutions, today announced that it has received $22 million in additional funding, led by a new investor, Valhalla Partners with participation from existing investors, General Catalyst Partners, BCE Capital, and Redpoint Ventures. JumpTap will use its expanded capital to support further product development of its powerful mobile search and advertising solutions, increase staff, and meet increased customer demand in the U.S. and Europe.
“And the value is directly related to JumpTap’s mobile operator deals, rich product suite and widening lead over its competitors.”
“Valhalla Partners was JumpTap’s first choice as our next major investor. Their broad and deep experience in the advertising and financial markets will help JumpTap grow its advertiser base and prepare the company for future funding opportunities,” stated Dan Olschwang, president and chief executive officer, JumpTap. “Our previous funding rounds allowed us to develop an outstanding team of mobile and search professionals, and consequently, a market leading mobile search and advertising solution. This new investment will help JumpTap increase our lead over the market’s other pure play search providers. We are very excited to work with Valhalla Partners and their outstanding executives to continue our success in mobile search and advertising markets worldwide.”
“JumpTap is a very exciting company with a brilliant product offering for wireless carriers and advertisers. They have an exceptionally qualified management team who has established carrier relationships and a broad pipeline of additional mobile carrier deals in North America and Europe,” said Arthur J. Marks, general partner at Valhalla Partners and former board member of Advertising.com. “Along with JumpTap’s leading market-share, they are the only mobile pure-play that has deployed a comprehensive search and advertising solution that can enhance carrier economics and provide an effective new vehicle for advertisers. My experience with Advertising.com helps me spot the next wave of opportunity for targeted marketing. JumpTap is a shining example of how a talented team of entrepreneurs and investors can envision and create a valuable and large market.”
“The increase in shareholder value that has been created is tremendous,” said John Simon, managing director, General Catalyst Partners. “And the value is directly related to JumpTap’s mobile operator deals, rich product suite and widening lead over its competitors.”
About JumpTap, Inc.
Founded in 2004, JumpTap, Inc. provides wireless carriers with an end-to-end, carrier-branded mobile search solution that drives third-party revenue for mobile operators while providing a quick, easy and fun mobile search experience for subscribers. JumpTap’s comprehensive solution couples an intuitive user interface and mobile-specific search engine with a search marketing model that pays carriers for search success. JumpTap provides carriers, advertisers and subscribers with the industry’s most complete, easy-to-use and rewarding mobile search environment. For more information on JumpTap, please visit: http://www.jumptap.com.
About Valhalla Partners
Valhalla Partners is a leading venture capital firm focused on working closely with entrepreneurs to build enduring technology companies. Valhalla has multiple investments in the advertising, wireless and enterprise technology markets. Valhalla assists entrepreneurs by offering both seasoned advice and best practices that have been developed over the last twenty years. During that time, the Valhalla team has invested in or served as senior executives in over 100 entrepreneurial companies. For more information, visit www.valhallapartners.com.
About General Catalyst Partners
General Catalyst Partners is a venture capital firm that invests in exceptional entrepreneurs who are building the technology-based companies that will lead innovation and transform industries. Founded in 2000, General Catalyst Partners leverages its principals' extensive operational, business development and technological expertise to provide portfolio companies with a catalyst for success through business-building and partnership development assistance. General Catalyst has approximately $1 billion under management and is headquartered in Cambridge, Mass. For more information, please visit: http://www.generalcatalyst.com.
About Redpoint Venture Partners
Redpoint Ventures was founded in 1999 by top partners each from Brentwood Venture Capital and Institutional Venture Partners (IVP), two leading venture firms. With more than a combined 100 years of operational industry and venture capital experience, Redpoint looks at technology investing from the perspective of supporting the entire process of early-stage company development. Redpoint's investments focus primarily in four areas: mobile wireless platforms and applications, consumer Internet services and platforms, enabling technologies for the digital home, and systems and software for the enterprise infrastructure. For more information, please visit: www.redpoint.com
About BCE Capital
BCE Capital is a leading Canadian venture capital firm. Founded in 1987 with offices in Toronto, Ottawa and Boston, the firm has built a track record of investing in and developing some of the most successful emerging growth communications and information technology companies in North America. BCE Capital has backed over 40 management teams, and has seen several of them through IPOs and acquisitions. Currently, the firm is investing in Fund IV, a US$200 million fund focusing on early-stage communications and IT companies. For more information, visit www.bcecapital.com