New Enterprise Associates has hired Paul Palmieri as venture advisor. Palmieri is the founder and former chairman/CEO of Millennial Media.
CHEVY CHASE, Md., Jan. 27, 2014 /PRNewswire/ — New Enterprise Associates, Inc. (NEA), a leading global venture capital firm, today announced the appointment of Paul Palmieri as Venture Advisor. Mr. Palmieri is the founder and former Chairman and CEO of Millennial Media. He served as the company’s President and CEO from its start in 2006 until January 2014. He brings to NEA more than 20 years of experience spanning mobile, ad tech, data analytics, and the app economy.
“Paul is among the most accomplished, respected and forward-thinking entrepreneurs in the digital advertising industry, and we are thrilled to welcome him to the NEA team,” said Patrick Kerins, NEA General Partner and co-head of the firm’s Technology Practice. “He will be a tremendous resource to our partnership and to companies in our current portfolio, bringing a wealth of insight in key areas like mobile location, ad targeting, media effectiveness, and digital profiles, as well as deep relationships with key marketers, agencies, and technology companies. His experience also includes building some of the industry’s best app developer programs at both Millennial Media and Verizon Wireless.”
Mr. Palmieri has pioneered the development of successful business models for both paid and ad-supported content and played a key role in the evolution of the digital advertising industry. He was named CEO of the Year in 2013 by Smart CEO Magazine, was the 2010 Ernst and Young Entrepreneur of the Year in Maryland, and was awarded the American Business Award (The Stevie Award) as Executive of the Year in Media 2011. He has served as Chair Emeritus of the Mobile Marketing Association, board member of the Interactive Advertising Bureau (IAB), and as a member of CTIA’s Wireless Internet Caucus Executive Council.
“As someone who is incredibly passionate about innovation, mobile technology and entrepreneurship, I’m thrilled to join a firm that not only shares that passion but is a driving force in the mobile technology platform transition as one of the sector’s leading investors,” said Mr. Palmieri. “I’ve worked closely with NEA for many years as an entrepreneur, and I am looking forward to this new role and the opportunity to help fuel the next wave of mobile technology innovation that transforms consumer behavior and businesses.”
New Enterprise Associates, Inc. (NEA) is a leading venture capital firm focused on helping entrepreneurs build transformational businesses across multiple stages, sectors and geographies. With approximately $13 billion in committed capital, NEA invests in information technology and healthcare companies at all stages in a company’s lifecycle, from seed stage through IPO. The firm’s long track record of successful investing includes more than 175 portfolio company IPOs and more than 300 acquisitions. In the U.S., NEA has offices in Menlo Park, CA; New York, NY; Chicago, IL; Boston, MA; and the Washington, D.C. metropolitan area. In addition, New Enterprise Associates (India) Pvt. Ltd. has offices in Bangalore and Mumbai, India and New Enterprise Associates (Beijing), Ltd. has offices in Beijing and Shanghai, China. For additional information, visit www.nea.com.