Jumptap gets USD 26 million in Series D funding
What has happened to the time? I remember writing about series A and B funding for JumpTap and now we are on Series D.
From the press release:
JumpTap has announced that it has closed a Series D round of funding in excess of $26 million. The investment was led by AllianceBernstein L.P. (NYSE: AB), one of the largest publicly traded global asset management firms in the world with approximately $694 billion in assets under management. All existing investors also participated in the round including General Catalyst Partners, Summerhill Venture Partners, Redpoint Ventures, Valhalla Partners, and WPP. This round reflects an increase to shareholder value and supports the ongoing growth of the organization and its significant position within the mobile advertising ecosystem.
“Internet advertising is currently growing at a compound annual rate of 18.3% and will reach $73 billion in
2011. What is really exciting about mobile advertising is its ability to eclipse Internet advertising,” said
Dan Olschwang, President and Chief Executive Officer of JumpTap. “We have seen firsthand that mobile
advertising is a viable mass medium - a fact which is reflected by our significant growth and numerous
recently announced deals.” Olschwang also commented, “The closing of this round by these prestigious
investors during a tight financial credit climate sends a strong and positive message about their
confidence in the growth potential of mobile search and advertising and our ability to execute on our longterm
vision. We are truly excited as to the value our new investor AllianceBernstein brings to the table.”
What we think?
Great news for JumpTap interview and briefing at CTIA.
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