Mobile advertising firm Jumptap has completed a $25m (£15.2m) funding round, with the money coming from existing investors, including AllianceBernstein, General Catalyst, Summerhill Ventures, Valhalla Partners and WPP, and led by Redpoint Ventures. Jumptap says the money will be used to accelerate company growth through product and technology development, and staffing to support increasing client demand.
“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,” says JumpTap CEO, George Bell. “We are well positioned to capitalize on the momentum in the mobile marketplace and continue to see impressive growth across all measures.”
Over the past 18 months, Jumptap says it 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 83m consumers, a 30 per cent increase over last year. Additionally, Jumptap has expanded to partner with more than 10,000 sites and apps, and in April, received over 10bn ad requests. The company has also been issued more than a dozen technology patents, and has signed rich media partnerships to accommodate increased demand for video, rich media and creative in-app formats.
"Jumptap is a strong and significant player in the world’s fastest growing new media," says Scott Raney, general partner, Redpoint Ventures, and a 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."