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Verve Mobile Secures $14M in Series C Funding to Expand Location Powered Mobile Ad Platform

New Investors Nokia Growth Partners & Qualcomm Join Series B Lead BlueRun Ventures

NEW YORK, Feb. 13, 2013 /PRNewswire/ -- 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.

SOURCE Verve Mobile

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