Mobile ad network Jumptap has closed a $25 million fourth round funding. The Cambridge, MA-based company plans to use the proceeds for hires and product development. Additionally, the company tells paidContent that as one of the last of the large independent mobile ad nets, Jumptap is considering some acquisition activity of its own.
“Mobile advertising is a sector in flux with lots of new development and consolidation,” a Jumptap rep said. “We want to be able to participate in that activity.”
The round was led by Redpoint Ventures, along with participation from existing investors including Alliance Bernstein, General Catalyst, Summerhill Ventures, Valhalla Partners and WPP. Word that Jumptap was looking to raise as much as $27 million in this round was first reported by Techcrunch last month.
The mobile space has been heating up over the past two years and Jumptap has been trying to keep up. It’s certainly been pretty active the last few months following the shakeup that led to the replacement of Dan Olschwang with George Bell, a managing director at Jumptap lead investor General Catalyst.
Shortly after, Todd Anderman left his post as the digital content head of U.S. publisher Hachette Filipacchi Media to become Jumptap’s chief media and revenue officer.
This year alone, the company added 35 employees, including additional recent hires on the publisher and client services teams include Regina Sebring who joined as Vice President of Publisher Partnerships from Audience Science; and Jared Hand, formerly of Gorilla Nation, who is now VP of Sales. John Hadl, founder and CEO of Brand in Hand, recently joined the Advisory Board as well.