>Location-Based Mobile Advertising Company JiWire Raises $20 Million
Location-Based Mobile Advertising Company JiWire Raises $20 Million
Exclusive: Location-based mobile advertising company JiWire has raised $20 million in new funding led by Trident Capital with Comcast Interactive Capital, Draper Fisher Jurvetson, Panorama Capital, and Norwest Venture Partners also participated in the financing. With the current funding, JiWire’s total capital raised to date is $45 million.
JiWire offers a highly targeted, location-based advertising platform that runs across Wi-Fi and mobile for devices such as iPads, smartphones and laptops. Through partnerships with more than 40 public WiFi networks, 30,000 venues and 60 airports, its ads reach more than 40 million people a month. JiWire also has advertising relationships with more than 200 location-based mobile applications.
On the advertising side, the company has partnered with a number of companies to connect these brands with its massive consumer reach. For example, JiWire announced a deal with Groupon to offer location-based deals at a hyperlocal level. Other brands using JiWire include Hewlett-Packard, Ritz Camera and Clinique.
Last year, JiWire acquired location-based mobile shopping platform NearbyNow, which allows brands to show products within an app or an ad and confirm availability of the product in the actual store. The company then integrated this technology into its own ad platform.
JiWire’s CEO Dave Courtney tells us that the new funding will be used to towards development of new ad technology and products, acquisitions and international expansion (the company entered the U.K. last year).