Blog Post

Mobile Search Firm JumpTap Raises $26 Million For Expansion Plans; Bumps Up Total To $72 Million

Cambridge, MA.-based JumpTap, a white-label mobile search and advertising company, plans to announce today that it has raised $26 million in a fourth round of funding, bringing its overall total to $72 million. The latest round was led by Alliance Bernstein L.P., a publicly traded global asset management firm. All other existing investors, including General Catalyst Partners, Summerhill Venture Partners, Redpoint Ventures, Valhalla Partners and WPP, participated. JumpTap said the company is worth more following the round, and that the capital will go towards accelerating the company’s advertising efforts and expansion plans in Europe.

The large bankroll will surely help the company grow and compete against several companies, including brand name online search providers, such as Google (NSDQ: GOOG), Yahoo (NSDQ: YHOO) and Microsoft (NSDQ: MSFT), but also other white-label search companies, like Seattle-based Medio Systems. More details on MocoNews.