Mojiva Inc. Secures $25 Million in Venture Funding to Drive Mobile Display Advertising Growth Globally
Shamrock Capital Advisors Leads Series C Funding Round; Mojiva Inc. Adds John Breeman as CFO to Help Drive the Company’s Hyper Growth
NEW YORK — Mojiva Inc. (www.mojivainc.com) today announced the closing of a $25 million Series C round of funding. The round was led by Shamrock Capital Advisors, a leading investment firm focused on the media, entertainment and communications sectors, with additional participation from Mojiva Inc.’s previous investors Pelion Venture Partners and Bertelsmann Digital Media Investments.
The company also announced that global financial veteran John Breeman joined as Chief Financial Officer, further adding to its talented executive team. Breeman brings more than 30 years of experience in mergers & acquisitions, financial management and developing and executing strategies at global conglomerates such as IDT, AT&T and Siemens. He will play an integral role in managing the company’s fast growth due to global demand for its Mojiva mobile ad network and industry leading Mocean Mobile ad serving platform.
“Shamrock Capital has been one of the most successful private equity firms in the media segment and are backing top companies across all forms of media,” said Dave Gwozdz, CEO of Mojiva Inc. “Having investors with such a deep knowledge of the media space will be a huge benefit to us as we expand the business to meet the needs of brands who are increasingly relying on mobile as a critical advertising medium.”
During the first half of 2011, Mojiva Inc has seen demand for its two business units, Mojiva and Mocean Mobile, rise dramatically. The Mojiva mobile advertising network now represents 3,000 mobile web publishers and apps. It reaches more than 100 million monthly unique users in the United States and 400 million monthly unique users globally, making it one of the largest mobile ad networks in the industry. The Mocean Mobile ad serving platform serves display ads to all mobile devices including smartphones, tablets and netbooks. Its industry leading platform currently powers more than a dozen mobile ad networks and dozens of top media partners’ mobile properties, including MSNBC, Intel and others.
“We have witnessed the impressive growth of Mojiva Inc over the past several months and are confident that it has all the pieces in place to push the boundaries of the industry,” said Mike LaSalle, Partner at Shamrock Capital Advisors, who will join the board of directors at Mojiva Inc. “In addition to the fact that their technology and execution are attracting top customers, its management team boasts an unrivaled amount of experience in the mobile display ad space.”
A recent research report by Gartner Research estimated worldwide spending on mobile advertising will reach $3.3 billion in 2011 and will top $20 billion by 2015. This is Mojiva Inc’s opportunity, as internationally, the company has had significant success moving the mobile advertising marketplace forward through advertisers and publishers in locations such as Canada, Germany and the United Kingdom. The additional funding enables Mojiva Inc to add more presence internationally and put a greater focus on the large and untapped mobile advertising markets in North America and Europe.
About Mojiva Inc
Mojiva Inc. is the parent company of the mobile ad network, Mojiva, and the mobile ad serving platform, Mocean Mobile. Mojiva Inc. has a total of $35 million venture funding from Shamrock Capital Advisors, Pelion Venture Partners and Bertelsmann Digital Media Investments. Founded in May 2008 and based in New York City, Mojiva Inc. is lead by a team of advertising and media veterans from Google, DoubleClick, Yahoo, and AdMob, with more than 100 years of collective experience in mobile marketing and technology.
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Category: Ad & Media Strategies, Ad Networks and Platforms, Internet Strategy, Marketing Strategy, Mobile Advertising, Online Advertising Challenges
