Verve Mobile Adds $14M Series C

Nokia Growth Partners led a $14 million Series C round for mobile advertising company Verve Mobile. New investor Qualcomm Ventures and Series B lead investor BlueRun Ventures also participated. Verve has offices in New York, Washington D.C., and San Diego, Calif.

PRESS RELEASE

Verve Mobile, the leader in location
powered mobile advertising, announced today it has closed its Series C financing
led by Nokia Growth Partners a global growth stage venture firm focused on
mobile technology, services and media with participation from new investor
Qualcomm Incorporated, acting through its venture investment group, Qualcomm
Ventures (QCOM), and Series B lead investor BlueRun Ventures. The capital will
be used to further develop and expand Verve’s proprietary mobile location-based
advertising and publishing products and to grow its marketing and sales
capabilities.

“Verve’s focus is combining big data, location-based services (LBS) and ad
technologies to make mobile advertising work better for advertisers and
publishers,” says 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 Gardner of Nokia Growth Partners has joined Verve’s Board in connection
with the financing, and Quinn Li of Qualcomm Ventures has become a Board
Observer.

About Verve
Verve Mobile is the pioneering leader in location-based mobile advertising. Our
customers are national brand advertisers who want to engage consumers on their
mobile devices with location-aware, data-driven and highly targeted marketing.
We also serve premium publishers across the nation, delivering the platforms and
services they need to power and monetize their mobile properties. The Verve
location-powered technology platform and the proprietary data it generates are
revolutionizing mobile media and advertising. It enables consumer and content
brands to reach their desired audiences on the go, out and about, and closer to
the buying decision than ever before. Verve has offices in New York, NY,
Washington D.C. and San Diego, CA. For more information, visit
www.vervemobile.com.

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