Mobile ad targeter Jumptap receives $27.5m investment

Mobile ad targeter Jumptap receives $27.5m investment

Summary: The company plans to use the funds for product and technology development, as well as preparation for a public offering.

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TOPICS: Software
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It's the final stretch for Jumptap, the startup that specializes in targeted mobile advertising, as it receives $27.5 million in financing from various venture capital firms on its way to a public offering.

The seven-year-old company, which is based in Cambridge, Mass., received support from General Catalyst Partners, Redpoint Ventures, Summerhill Ventures, Valhalla Partners, WPP and two new investors -- Keating Capital and a "large institutional investor" that was not named.

The money will be used for product and technology development as it ramps up for that IPO down the line.

It's certainly been on a tear. The company inked more than 20 partnerships in the last year to bring third-party data into its mobile advertising offering, and it's pushed deeper into the automotive, retail, entertainment, consumer packaged goods and financial services industries.

A few quick stats on the company:

  • 107 million mobile users in the U.S. per month
  • 156 million mobile users worldwide per month
  • 20 billion mobile impressions per month
  • 29 patents issued; 200 pending

The company increased its headcount by 50 percent in 2011 to handle the demand, in line with increased growth in the mobile advertising industry itself.

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Topic: Software

Andrew Nusca

About Andrew Nusca

Andrew Nusca is a former writer-editor for ZDNet and contributor to CNET. During his tenure, he was the editor of SmartPlanet, ZDNet's sister site about innovation.

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