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October 4, 2006

Medio's competition beefs up

Posted by Tricia Duryee at 1:29 PM

Cambridge, Mass.-based JumpTap, a competitor to Seattle's Medio Systems, has received $22 million in funding.

The round was led by Valhalla Partners with participation from existing investors General Catalyst Partners, BCE Capita, and Redpoint Ventures.

JumpTap said it will use its the funding to support further product development of its mobile search and advertising product, increase staff and "meet increased customer demand in the US. and Europe."

JumpTap has a deployment with Alltel, while Medio has a deployment with Verizon Wireless.

I included JumpTap in a story while I was at the CTIA IT and Entertainment Show that detailed advertising on the mobile phone.

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Tricia Duryee
Tricia Duryee
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