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Tapjoy Announces $30 Million Series D Financing Round
Jul 06, 2011 (06:07 PM EDT)
Growth financing led by investors advised by J.P. Morgan Asset Management includes participation from all existing investors
SAN FRANCISCO, July 6, 2011 /PRNewswire/ -- Tapjoy, Inc. (www.tapjoy.com), a leading independent mobile applications network, today announced that it has closed a round of $30 million Series D financing, led by new investors advised by J.P. Morgan Asset Management and including major existing investors Rho Ventures, North Bridge Venture Partners, InterWest Partners and D.E. Shaw Ventures.
Over the past year, Tapjoy has experienced rapid growth and expansion as mobile application developers, advertisers and consumers embrace its technology and the Tapjoy model for the discovery, distribution and monetization of mobile applications. This additional funding will enable the company to continue to accelerate its innovative product technology roadmap, expand its direct advertiser relationships, broaden its services, and aggressively pursue new opportunities.
"We are delighted to receive such outstanding support from our existing top-tier investors and to have attracted J.P. Morgan Asset Management to support our growing momentum. It is a strong vote of confidence in our technology, our people and the Tapjoy model," said Mihir Shah, president and CEO of Tapjoy. "Our products deliver value to all parties within the mobile ecosystem by promoting the right mobile application to the right consumer at the right time. We enable developers to create innovative content that is able to get discovered, while also allowing advertisers to engage with the largest targeted mobile audience across Android, iOS, WP7 and HTML5 apps."
Larry Unrein, Managing Director of J.P. Morgan Asset Management, added, "We are now seeing an enormous shift in content development and content consumption being driven by the worldwide smartphone adoption. Tapjoy has built an extraordinary mobile applications network and has developed innovative product technology to drive success for mobile application developers and consumers. We're thrilled to have the opportunity to support Tapjoy and its commitment to the democratization of the entire mobile applications market."
Paul Santinelli of North Bridge Venture Partners said, "This growth round provides the resources necessary to scale what is already a very successful company, both organically as well as through acquisitions of additional talent and unique mobile IP."
About JP Morgan
J.P. Morgan Asset Management, with assets under supervision of approximately $1.9 trillion and assets under management of $1.3 trillion (as of 3/31/11), is a global leader in investment management. J.P. Morgan Asset Management's clients include institutions, retail investors and high-net worth individuals in every major market throughout the world. J.P. Morgan Asset Management offers global investment management in equities, fixed income, real estate, hedge funds, private equity and liquidity. JPMorgan Chase & Co. (NYSE: JPM), the parent company of J.P. Morgan Asset Management, is a leading global asset management firm with assets of approximately $2.1 trillion and operations in more than 60 countries. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.
J.P. Morgan Asset Management is the marketing name for the asset management businesses of JPMorgan Chase & Co. Those businesses include, but are not limited to, J.P. Morgan Investment Management Inc., Security Capital Research & Management Incorporated, and J.P. Morgan Alternative Asset Management, Inc.
Tapjoy is the success engine for mobile application distribution, engagement and revenue. The company's turnkey in-app advertising platform helps developers acquire cost-effective, high-value new users, drive engagement within their applications, and create incremental income by providing an ad-funded payment method. The Tapjoy network spans over 9,000 applications and 200 million global consumers on iOS, Android and emerging mobile platforms, delivering more than 1.5 million advertising completions per day to applications developers and advertisers. Tapjoy is backed by top-tier investors including JP Morgan, Rho Ventures, North Bridge Venture Partners, InterWest Partners and D.E. Shaw Ventures. Headquartered in San Francisco, the company also has offices in New York, London and Tokyo. For more information, please visit www.tapjoy.com.
SOURCE Tapjoy, Inc.