YOU ARE AT:CarriersSILICON VALLEY: JiWire raises $20 million for location-based advertising

SILICON VALLEY: JiWire raises $20 million for location-based advertising

JiWire Inc. has raised $20 million in new funding, bringing its total capital raised to date at $45 million. The San Francisco-based company provides a platform to deliver advertising across mobile applications and public Wi-Fi. It now claims to reach 40 million users every month.
The $20 million venture capital round was led by Trident Capital while existing investors Comcast Interactive Capital, DFJ Frontier, Norwest Venture Parnters and Panorama Capital also participated in the financing.
The new cash will be used to expand JiWire’s location-based advertising business, specifically through new investment in ad technology, merger-and-acquisition opportunities and continued international expansion.
“We’re delighted that Trident Capital has heartily endorsed our leadership position and momentum in location based media,” JiWire CEO David Courtney said in a prepared statement. “We are in a period of phenomenal growth, leveraging location to transform the advertising market. We have our sights set on enhancing our proprietary data technology, expanding our unique and extensive distribution network and providing revolutionary ad products for our growing client base of leading advertisers to locationize their brands.”
John Moragne, co-founder of Trident Capital, who will now join JiWire’s board, said: “We have focused intently on location as an important tool in delivering relevant and targeted media to mobile users.”

ABOUT AUTHOR

Matt Kapko
Matt Kapko
Former Feature writer for RCR Wireless NewsCurrently writing for CIOhttp://www.CIO.com/ Matt Kapko specializes in the convergence of social media, mobility, digital marketing and technology. As a senior writer at CIO.com, Matt covers social media and enterprise collaboration. Matt is a former editor and reporter for ClickZ, RCR Wireless News, paidContent and mocoNews, iMedia Connection, Bay City News Service, the Half Moon Bay Review, and several other Web and print publications. Matt lives in a nearly century-old craftsman in Long Beach, Calif. He enjoys traveling and hitting the road with his wife, going to shows, rooting for the 49ers, gardening and reading.