JumpTap,
Inc., a pioneer in the development of innovative mobile search and
advertising solutions, recently announced that it has received $22
million in additional funding, led by a new investor, Valhalla
Partners with participation from existing investors, General
Catalyst Partners, BCE Capital, and Redpoint Ventures. JumpTap will
use its expanded capital to support further product development of
its powerful mobile search and advertising solutions, increase
staff, and meet increased customer demand in the U.S. and Europe.
"Valhalla Partners was JumpTap's first choice as our next major
investor. Their broad and deep experience in the advertising and
financial markets will help JumpTap grow its advertiser base and
prepare the company for future funding opportunities," stated Dan
Olschwang, president and chief executive officer, JumpTap. "Our
previous funding rounds allowed us to develop an outstanding team of
mobile and search professionals, and consequently, a market leading
mobile search and advertising solution. This new investment will
help JumpTap increase our lead over the market's other pure play
search providers. We are very excited to work with Valhalla Partners
and their outstanding executives to continue our success in mobile
search and advertising markets worldwide."
Funding to Enable Mobile
Search and Advertising Pioneer to Expand into Additional Markets and
Meet Growing Customer Demand
"JumpTap
is a very exciting company with a brilliant product offering for
wireless carriers and advertisers. They have an exceptionally
qualified management team who has established carrier relationships
and a broad pipeline of additional mobile carrier deals in North
America and Europe," said Arthur J. Marks, general partner at
Valhalla Partners and former board member of Advertising.com. "Along
with JumpTap's leading market-share, they are the only mobile
pure-play that has deployed a comprehensive search and advertising
solution that can enhance carrier economics and provide an effective
new vehicle for advertisers. My experience with Advertising.com
helps me spot the next wave of opportunity for targeted marketing.
JumpTap is a shining example of how a talented team of entrepreneurs
and investors can envision and create a valuable and large market."
"The increase in shareholder value that has been created is
tremendous," said John Simon, managing director, General Catalyst
Partners. "And the value is directly related to JumpTap's mobile
operator deals, rich product suite and widening lead over its
competitors."
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