By Rhonda Wickham
Wireless Week - December 14, 2007
Mobile Posse, a mobile content and advertising solution provider, has raised $10 million in series B equity financing. New investor Softbank Capital led the round, which also included Court Square Ventures, Columbia Capital and individual investors.
The new funding will target ongoing trials and commercial implementations as well as expand the advertising sales division to market the solution to a larger audience.
Mobile Posse's claim to fame is it offers idle screen insertion advertising for interactive content delivery. The platform delivers mobile content and interactive promotions that enable subscribers to receive relevant content at various intervals of their choosing. This allows marketers to enhance their reach, targeting and qualified conversion rates. The company recently announced its first commercial rollout with a regional U.S. carrier and is currently engaged in other carrier trials.
According to Steve Murray, a Softbank Capital partner, consumers have responded positively as evidenced by click-through rates, and that response has outpaced other forms of interactive media such as the Internet. "Ultimately, success in this market will be about the consumers' desire to deeply engage and early returns from Mobile Posse are very encouraging," he said.
"Mobile Posse's technology is very appealing for carriers, especially because trials have indicated that offering the idle screen solution not only drives higher ARPU but also increases subscriber loyalty," said Harry Hopper, Partner at Columbia Capital. "We're confident that Mobile Posse's current market traction will continue."
