It seems that there’s still room for independent mobile advertising networks. Mobile advertising company JumpTap announced today that it has completed a $25 million financing round. The capital will be used to recruit new employees and for product and technology development. The company recently hired high-level executives to support growth in the future.
The funding comes from existing investors including AllianceBernstein, General Catalyst, Redpoint Ventures, Summerhill Ventures, Valhalla Partners and WPP. There were also unnamed new investors involved.
JumpTap claims that over the past 18 months it has experienced accelerated growth with significant increases in mobile ad network traffic, client ad campaigns and deeper reach into major verticals such as automotive, entertainment, consumer packaged goods and financial services. The network reaches 83 million consumers each month, a 30 percent increase from last year.
The company has already hired 35 new employees this year including chief media and revenue officer Todd Anderman, who was previously the digital content head of U.S. publisher Hachette Filipacchi Media. In September 2010, the company hired new CEO George Bell from venture capital firm General Catalyst.
There’s a lot going on in mobile ad networks nowadays. Online marketing company ValueClick acquired mobile ad network Greystripe in April for 75 million. Google purchased previously AdMob for 750 million and Apple acquired Quattro Wireless for $275 million.
VentureBeatVentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative technology and transact. Our site delivers essential information on data technologies and strategies to guide you as you lead your organizations. We invite you to become a member of our community, to access:
- up-to-date information on the subjects of interest to you
- our newsletters
- gated thought-leader content and discounted access to our prized events, such as Transform 2021: Learn More
- networking features, and more