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

   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

PR Newswire

NEW YORK, Feb. 13, 2013

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

Website: http://www.nokiagrowthpartners.com
Website: http://www.vervemobile.com
Contact: Greg Hallinan, Verve Mobile, +1-760-479-0055, ext. 312
 
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