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Funding for startups

JumpTap Raises $22M

CAMBRIDGE, Mass. -- JumpTap, Inc., a pioneer in the development of innovative mobile search and advertising solutions, today 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."

"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."

JumpTap Inc.

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