JumpTap Secures Over $26 Million in Series D Funding

Mobile search and ad agency, JumpTap says that it has closed a Series D round of funding in excess of US$26 million. The funding will be used to further develop JumpTapÃ's mobile search and advertising solutions and to continue expansion of its global ad sales and operations divisions to meet increased demand from advertisers.

"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." aid Dan Olschwang, President and Chief Executive Officer of JumpTap.

According to eMarketer, worldwide spending on mobile advertising topped $2.7 billion last year and is expected to rise to $4.8 billion in 2008 and to $19.1 billion by 2012.

"ItÃ's an incredibly gratifying experience, being a part of a company from its inception and watching it develop and cross major milestones," said John Simon, Founder and Chairman of JumpTap and Managing Director at General Catalyst. "We recognize that JumpTap is a true market trailblazer and believe in its future. Having a top tier firm like AllianceBernstein join the fold further strengthens JumpTapÃ's ability to prepare for future growth and success."

The company recently opened new offices in Madrid, Stockholm, and New York City. The new offices will help to accommodate JumpTapÃ's expanded mobile ad sales force, which has grown by 600 percent in 2008.

The company says that its platform reaches over 150 million mobile subscribers through partnerships with 17 mobile operators and numerous content publishers.

Posted to the site on 26th August 2008