Mobile search and advertising startup JumpTap, today secured $26 million in a fourth round of funding led by AllianceBernstein L.P.
JumpTap makes mobile Web portals for carriers like AT&T and U.S. Cellular and sells mobile ads for carriers and publishers, including NBC. JumpTap is working on tailoring search to mobile, with search algorithm that look to rank actionable results higher than others, and results specific to the device being used.
The Cambridge, Ma. Based company plans to use the money to develop its products, hire more sales staff, and expand internationally.
This round of funding brings the company’s overall capital raised to $72 million. All existing investors contributed to this round, including General Catalyst Partners, Summerhill Venture Partners, Redpoint Ventures, Valhalla Partners, and ad giant WPP.
CEO Dan Olschwang said in the release: “Internet advertising is currently growing at a compound annual rate of 18.3 percent and will reach $73 billion in 2011. What is really exciting about mobile advertising is its ability to eclipse Internet advertising.”
But the question remains as to who will be able to capitalize on that growth. JumpTap is going up against Google in the nascent market, but thinks that their customized approach to mobile will work to their advantage. That, combined with the "Googlephobia" of telecom carriers, will be two things working in the company's favor.
