USA: JiWire Raises an Additional $20 Million
JiWire has raised $20 million in Series C funding. The funding round was led by Trident Capital based in Palo Alto, California. Existing investors Comcast Interactive Capital, DFJ Frontier, Norwest Venture Partners and Panorama Capital also participated in the financing. With the current funding, total capital raised to date is $45 million.
As part of its investment, Trident Capital’s John Moragne will join the JiWire board. John co-founded Trident Capital and was recently named to Forbes’ Midas list of the 100 most powerful VCs. He brings a wealth of expertise in location and advertising through his involvement in companies such as MapQuest, Homeaway and Turn.
The new capital will be used to aggressively extend JiWire’s leadership position in location-based advertising. The areas of growth include broadening its investment in new ad technology and products, pursuing additional M&A opportunities, such as its recent acquisition of NearbyNow, and further expanding internationally, having already entered the U.K. market last year.
In the past year, JiWire has already expanded its business enabling advertising across both mobile applications and public Wi-Fi, now reaching an audience of more than 40 million users each month.
Categories : Finances, Funding, United States




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