Mobile Advertising Network Jumptap Raises $25 Million From Existing Investors
Mobile advertising network Jumptap raised another $25 million from existing investors AllianceBernstein, General Catalyst, Redpoint Ventures, Summerhill Ventures, Valhalla Partners and WPP. There were a few new investors too, although the company didn’t disclose who they were.
The round was first reported last month when an SEC filing popped up, reporting $20 million in funds raised. Today Jumptap confirmed the round and said that it was actually $5 million larger.
Jumptap says the new funds will go toward product development and hiring account managers or salespeople who can handle client demand.
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