JumpTap Gets $24M to Compete with Google-Verizon
Posted by Syberplanet on August 26th, 2008 - 16 views
JumpTap, the white label mobile search service, has just announced its series D round of funding, amounting to $24 million. This brings the total amount of funding raised to $72 million. This series D round was led by AllianceBernstein L.P., with all existing investors participating in the round, including General Catalyst Partners, Summerhill Venture Partners, Redpoint Ventures, Valhalla Partners, and WPP.
The face of mobile browsing and advertising is a rapidly changing sector, and is growing all the time, so there are some key aspects of its white label mobile search solution that JumpTap will be focusing on in regards to the allocation of this recent round of investment funding. One area in particular is the technology behind its white label solution, so that it can provide a reliable network for the delivery of ads, the ability to collect pertinent data based on mobile search parameters, and provide the necessary analytics to advertisers and carriers alike. Additionally, JumpTap will be using the funding to continue to grow its sales force, as well as to further its global expansion into many of the Western European countries.
Given the recent Verizon-Google deal making Google the default search engine for Verizon, it’s even more important for JumpTap to invest its funding in the right aspects of its company, as it is going up against large search engines like Google, Yahoo and Microsoft. So JumpTap is focusing on these three areas, technology, sales and global expansion, to provide better tools that allow all parties involved to monetize search and advertising on mobile networks. JumpTap works directly with carriers for its advertising solutions, giving it a broad reach, especially when you factor in its existing international presence, reportedly partnering with 17 mobile carriers, reaching over 150 million mobile subscribers worldwide.
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