JumpTap raises 26M for White Label Mobile Search
By Azam on August 26, 2008 
JumpTap a player in the mobile search plans to use capital from funding to further develop mobile search and advertising solution; also, the firm plans for global expansion with increased efforts in sales and operations overseas. JumpTap will compete with larger firms like Google and Yahoo for mobile search, and smaller players like Medio are competing in the lucrative opportunity in mobile search and advertising. According to eMarketer, worldwide spending on mobile advertising topped $2.7 billion last year and is expected to rise to $4.8 billion in 2008 and to $19.1 billion by 2012. More ubiquitous than PCs and with more than 3.3 billion devices in use today, mobile presents an unparalleled opportunity to deliver personalized, relevant messages and to engage users at an unprecedented level of interactivity.
The Approach
We have a little different approach. We present a more usable result on the mobile phone than incumbent search engines. We are not trying to take Web results and shrink them onto a small screen. If you are standing on a street and looking for Tylenol for your baby, you are not interested in the recent press release. You are interested in the closest open drug store.
The Opportunity
“Internet advertising is currently growing at a compound annual rate of 18.3% and will reach $73 billion in 2011. What is really exciting about mobile advertising is its ability to eclipse Internet advertising,” said Dan Olschwang, President and Chief Executive Officer of JumpTap. “We have seen firsthand that mobile advertising is a viable mass medium - a fact which is reflected by our significant growth and numerous recently announced deals.”
JumpTap Series D round was lead by by AllianceBernstein L.P and investors in the round included previous investors General Catalyst Partners, Summerhill Venture Partners, Redpoint Ventures, Valhalla Partners, and WPP.
JumpTap was founded in 2004 and has raised a total of 73M including recent round reported. The company includes Verizon and AT&T carriers that use JumpTap technology to address search and mobile advestising. The company has signed deals with t deals with NBC Universal, Fox Mobile Entertainment, and US Cellular.
Categories : WirelessTags : , AllianceBerstein, ATT, Goolge, JumpTap, Medio, Mobile Search, Mobile Search Advestising, Verizon, yahoo