Mobile Posse Secures $10 Million in Venture Capital Funding

Mobile Posse Inc., a leading mobile content and advertising solution provider, announced today that it 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 facilitate commercial implementation with additional carriers as well as expand the depth and breadth of Mobile Posse's advertising sales division.

Mobile Posse is a leading mobile advertising solution provider and the first to bring idle screen interactive content delivery to North America. The platform provides the most effective mode of delivery for mobile content and interactive promotions that enable subscribers to receive relevant content at various intervals of their choosing. By delivering a personalized and targeted relationship with consumers, Mobile Posse allows marketers to radically enhance reach, targeting and qualified conversion rates in a convenient, cost- effective manner. The company recently announced its first commercial rollout with a regional US carrier and is currently engaged in many highly successful carrier trials.

"This is an exciting stage in our company's development. We are continuously receiving confirmation from the marketplace that we have created a mobile advertising solution that can deliver results today," said Jon Jackson, Founder and CEO of Mobile Posse. "We are thrilled at this vote of confidence from such top tier investors as we embark on this next stage in the company's growth."

Steve Murray, Partner at Softbank Capital, noted that "Mobile Posse has been able to effectively deliver valuable content and promotions to mobile users in an easy to use fashion. The consumer response, as evidenced by click-through rates, has been remarkably positive as compared with other forms of interactive mediums like 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."

"With its seasoned management team, innovative technology and astute understanding of all its audiences including carriers, advertisers and consumers, we believe Mobile Posse has all of the elements needed to succeed in this space. This new funding will allow the company to manage ongoing trials and market the solution to a larger audience," said Chris Holden, General Partner at Court Square Ventures.

"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."

Early stage investors in the company include Jack Davies, Founder of AOL International, who continues to play an active role in the company's strategic direction; Nigel Morris, Co-Founder and former COO of Capital One; and Ted Leonsis, Vice Chairman Emeritus of AOL. Davies said, "We are very pleased with the progress that Mobile Posse has made within the last year. Building on these accomplishments, we look forward to working with our new partners and accelerating growth."

Mobile Posse, Inc. is a privately-held mobile advertising solution provider based in McLean, VA. Using proprietary patents-pending software, Mobile Posse allows marketers to radically enhance reach and conversion rates in a convenient and cost-effective manner while strengthening relationships with the consumer and carriers. Mobile Posse is the first company to rollout and deliver idle screen insertion advertisements in partnership with a U.S. carrier.

SoftBank Capital is an independent venture capital firm focused on high- growth technology-based businesses benefiting from the rapid deployment and adoption of broadband and mobile technologies. With principal offices in Boston and New York, SoftBank Capital brings a unique combination of experience in operations, technology, strategy, corporate finance, new media and international markets to its portfolio investments.

Court Square Ventures is a venture capital firm that invests in early- stage communications, information technology, and media companies, with a particular interest in points of convergence between these industries. The firm's deep understanding of its three target sectors stems from the partners' 60 years of operating and investing experience in these areas. Court Square uses this base of experience to support young companies executing the critical transitions from pre-revenue to first sales and accelerating growth. Court Square seeks to establish close partnership with passionate, committed entrepreneurs and like-minded co-investors. The principals bring a broad national network of target sector contacts to bear in helping portfolio companies source customers, find strategic partners, and recruit key personnel.

Columbia Capital is a venture capital firm specializing in the communications, media and information technology industries. Founded in 1989, Columbia Capital has helped establish more than 100 early stage ventures and currently manages more than $2 billion in capital. Columbia Capital has been an active participant in the wireless communications industry since its formative period nearly 20 years ago. In the wireless communications and media categories specifically, Columbia Capital has been a founding investor in such notable successes as XM Satellite Radio, Nextel Communications, WNP Communications, Advanced Radio Telecom, NeoWorld Communications, and Digital Television Services. Columbia Capital has also helped establish numerous other successful wireless service providers including MetroPCS, Mobile Satellite Ventures, Revol Wireless, Coral Wireless, and WCS Wireless.

SOURCE: Mobile Posse Inc