JiWire, a San Francisco mobile media startup, has raised another $20 million in venture funding led by Trident Capital.
The 8-year-old company offers location-based advertising to mobile device users. Using a network of “hotspots” at airports, Starbucks outlets and Hilton and Marriott hotels, the company targets consumers on behalf of clients such as Groupon and Gap.
ABI Research has estimated the market for such targeted advertising could approach $1.8 billion annually by 2015.
JiWire officials said they now reach more than 40 million users per month. The company last year expanded into the United Kingdom via a partnership with British Telecom.
“We are in a period of phenomenal growth,” said CEO David Courtney, a former TiVo executive.
JiWire officials said the infusion — the company’s third round of venture funding — would let them invest in new advertising technology, continue to grow internationally and pursue acquisitions of other companies.
Besides Palo Alto-based Trident, previous investors including Comcast, Draper Fisher Jurvetson and Norwest Venture Partners participated in the funding round. JiWire has raised a total of $45 million.
“I think they’re in the perfect spot for the market right now,” Norwest’s Josh Goldman said. “Advertisers are looking for a way to reach people with ad content that adapts based on their location.”
He noted that JiWire has partnered for a number of years with T-Mobile, AT&T and other Wi-Fi providers and is now developing applications for mobile phone users.
Contact Peter Delevett at 408-271-3638. Follow him at Twitter.com/mercwiretap.
