Mojiva
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 and 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.
During
the first half of 2011, Mojiva 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.”
According
to Gartner, worldwide spending on mobile advertising will reach $3.3 billion in
2011 and will top $20 billion by 2015. This is Mojiva’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 to add more presence internationally and put
a greater focus on the large and untapped mobile advertising markets in North
America and Europe.
By
TelecomLead.com Team
[email protected]
