Jumptap, a Cambridge, MA-based provider of targeted mobile advertising solutions, completed a $27.5m financing.
– existing investors General Catalyst Partners, Redpoint Ventures, Summerhill Ventures, Valhalla Partners, and WPP;
– new investors Keating Capital and another undisclosed shareholder.
The company intends to use the capital to invest in product and technology development and prepare for a public offering.
Led by George Bell, CEO, Jumptap uses its technology portfolio, as well as partnerships with third- party data providers, to understand mobile audiences and provide intelligent targeting with scale. It reaches 107 million mobile users in the U.S. and 156 million mobile users worldwide.