Jumptap receives $25M in VC funding

Mobile advertising company Jumptap said it completed a $25 million financing round that it plans to use to accelerate growth through product and technology development, as well as add staff. The seven-year-old company has received about $100 million in total funding.
Existing investors including AllianceBernstein, General Catalyst, Redpoint Ventures, Summerhill Ventures, Valhalla Partners and WPP, as well as several new investors, participated in the round.
“Jumptap is a strong and significant player in the world’s fastest growing new media,” said Scott Raney, General Partner, Redpoint Ventures, and member of Jumptap’s board. “The company has achieved scale and developed a market position around understanding mobile audiences, which we feel is very compelling. This vision, together with a superior leadership team, made this a tremendous investment opportunity for us.”
Jumptap said its targeted advertising network reaches 83 million consumers, up 30% from a year ago. The company has partnered with more than 10,000 sites and apps; and received more than 10 billion ad requests in April. The company has hired 35 employees this year.