Verve Mobile has secured $14 million in Series C funding to be used to expand Verve’s proprietary mobile location-based advertising, to improve its marketing and sales capabilities, Verve said in a recent statement.
Along with Nokia Growth Partners, Verve used Series C financing to secure investors. New investors include Qualcomm Incorporated through Qualcomm Ventures and BlueRun Ventures.
With the new funding, Verve will improve its current technologies and services and expand them to reach more potential users.
“Verve’s focus is combining big data, location-based services and ad technologies to make mobile advertising work better for advertisers and publishers,” said Tom MacIsaac, Verve Mobile CEO. “Nokia and Qualcomm are global leaders in mobile technology innovation and have important insights, assets, initiatives and relationships that can help Verve maintain its lead in location powered mobile advertising.”
John Gardener of Nokia Growth Partners joined Verve’s Board to help with financing, and Quinn Li of Qualcomm Ventures has become a Board Observer for similar reasons.
Verve Mobile calls itself a pioneering leader in location-based mobile advertising. By using the current location of users of mobile devices, Verve allows national brand advertisers to engage consumers with highly-targeted marketing messages.
Mobile advertising allows application makers to monetize their apps by working with publishers across the country.
Verve Location Service generates data on users, while Verve Ad Manager is used by publishers to target consumers based on location, management of their inventory, deployment of ads, improvements to ad efficacy and reviews and analysis of collected data.
Verve Publisher creates mobile, scalable websites for media companies across the U.S. Fully featured and high-end applications are delivered by Verve in just days for iOs, Android and Windows devices. The creation of an application via Verve Publisher comes with Verve Ad Manager, making the monetization of their new applications very simple.
Edited by Braden Becker