Location-based mobile advertising company JiWire has closed
$20 million in
third-round funding led by Trident Capital and including prior investors Comcast Interactive Capital, Draper Fisher Jurvetson, Norwest Venture Partners and Panorama Capital.
That brings
total financing raised to $45 million. The new capital will be used to increase investment in new ad technology and products, pursue additional M&A opportunities, and further expand
internationally after entering the U.K. market last year.
JiWire operates a network of 30,000 Wi-Fi hotspots nationwide at cafes, airports and hotels as well as mobile applications that offer
geotargeted advertising that it says reaches an audience of 40 million.
Late last year, the company introduced "Compass" ads for smartphones, tablets and laptops that allow marketers to
provide more localized data and services, such as walking and driving directions to nearby stores or being able to see whether a specific product is available at local retailers, within the ad units.
As part of its investment, Trident Capital co-founder John Moragne will join the JiWire board. "We have focused intently on location as an important tool in delivering relevant and targeted media
to mobile users," said Moragne, in a statement.