The growth in use of mobile devices for web access spawned a number of innovative advertising networks. Plenty of mobile ad companies were acquired by large enterprises. Apple acquired Quattro Wireless for $275 million and Google bought AdMob for $750 million. Most recently, ValueClick purchased Greystripe for $75 million.
But other corporations in the mobile advertising industry continue to arise. JumpTap just announced that it has raised $25 million in order to add new employees and expand product development. The company has hired high-level executives to support future growth in the still competitive market. Personnel additions include a new CEO as well as a chief media and revenue officer.
JumpTap uses a sophisticated algorithmic technology to deliver targeted advertising to mobile device users. The company’s network of mobile websites and applications provide content and relevant advertising. JumpTap promises a greater return on investment for advertisers plus more revenue for mobile application developers and publishers. With a focus on the consumer experience, mobile advertising with JumpTap is aimed at providing the most relevant ads in order to increase click-through and conversion rates.
JumpTap claims to have experienced accelerated growth in the past eighteen months with increases in mobile ad network traffic and client advertising campaigns. The company recently reported reaching 83 million consumers per month. Targeted mobile markets include entertainment, automotive, consumer goods, and financial services.
The new funding for JumpTap comes from several unnamed new investors as well as repeat capital sources, including Alliance Bernstein, General Catalyst, Redpoint Ventures, Summerhill Ventures, and Valhalla Partners. New CEO, George Bell, who was hired in September 2010 comes from the General Catalyst venture capital firm.