Verve Wireless Inc., a Encinitas, CA-based provider of mobile publishing and advertising technologies to local media companies, has closed a $7m round of financing.
The round was led by BlueRun Ventures, with participation from existing backer, The Associated Press, along with other undisclosed investors.
The new capital will be used to further develop and expand Verve’s products and services, including its local advertising network and publisher platform. The company’s proprietary Verve Gateway(TM) allows local publishers to distribute and manage news and targeted advertising across all mobile platforms, from iPhone to Android.
Its platform and tools are used by over 750 media companies (dailies, radio, local broadcast stations, and online properties) from the US, Canada, Europe, and Middle East.
Clients include The Associated Press, McClatchy Interactive, MediaNews Group, A.H. Belo Corporation, Hearst Corporation, Philly.com, Belo Corporation, and Advance.net. Additionally, the company has partnered with leading mobile device manufacturers, including Apple and Nokia, and carriers, including AT&T, Verizon Wireless, T-Mobile and Sprint.
FinSMEs
28/09/2010