Mobile advertising company Jumptap raises $25 million
The mobile advertising company Jumptap announced that it has completed a $25 million financing round from existing investors, including AllianceBernstein, General Catalyst, Summerhill Ventures, Valhalla Partners and WPP, and led by Redpoint Ventures. The new money will be used for expanding the company’s growth through product and technology development, and staffing to support increasing client demand.
Over the past year and a half, Jumptap has experienced accelerated growth, reaching deeper into major verticals such as automotive, entertainment, consumer packaged goods and financial services. Each month the network reaches 83 million consumers, which is a 30% increase from last year. Additionally, Jumptap now partners with more than 10,000 sites and apps, and has received more than 10 billion ad requests in April. Finally, the company has also signed rich media partnerships to accommodate increased demand for video, rich media and creative in-app formats.
All this required more people and Jumptap has added 35 employees thus far this year. The company got a new CEO (George Bell) in September 2010, Chief Media and Revenue Officer (Todd Anderman) in January 2011, as well as Vice President of Publisher Partnerships (Regina Sebring) and Vice President of Sales (Jared Hand). John Hadl, founder and CEO of Brand in Hand, recently joined the Advisory Board as well.
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