Targeted Mobile Ad Company and Data Platform Receives Growth Capital from Keating Capital
GREENWOOD VILLAGE, Colo. - Keating Capital, Inc. (Nasdaq: KIPO) (www.KeatingCapital.com), a business development company, announced that it has made a $5 million investment in the $27.5 million Series G Convertible Preferred Stock round of Jumptap, Inc. (“Jumptap”). Keating was the lead investor in the round and was joined by existing investors, including General Catalyst, Redpoint Ventures, Summerhill Ventures, Valhalla Partners and WPP.
Founded in 2005 and headquartered in Cambridge, Massachusetts, Jumptap is a mobile advertising network and data platform that helps global brands to target, place and track advertising on mobile phones and tablets. Jumptap utilizes its proprietary targeting technology, industry partnerships and third-party data to optimize mobile advertising campaigns by identifying and targeting the most relevant mobile audiences.
“The burgeoning mobile web and the proliferation of smartphones present a highly complex landscape for advertisers and publishers to navigate and utilize effectively,” noted Timothy J. Keating, CEO of Keating Capital. “We believe Jumptap’s platform helps mobile advertisers more effectively connect consumers to their favored brands, services and products. We are excited by the opportunity to invest in Jumptap, and look forward to supporting this exceptional leadership team as they continue to execute on their vision,” added Mr. Keating.
Jumptap is Keating Capital’s sixth new portfolio company investment in 2012. With this investment, Keating Capital has now made investments of $63.0 million in 20 portfolio companies, including $27.1 million invested year-to-date.
About Keating Capital, Inc.
Keating Capital is a business development company that specializes in making pre-IPO investments in innovative, emerging growth companies that are committed to and capable of becoming public. We provide investors with the ability to participate in a unique fund that allows our stockholders to share in the potential value accretion that we believe typically occurs once a company transforms from private to public status. Keating Capital’s shares are listed on Nasdaq under the ticker symbol “KIPO.”
To be added to Keating Capital’s email distribution list to receive quarterly newsletters and other announcements, go to www.KeatingCapital.com/contact.