Verve Picks Up $7 Million in Funding

Oct 01, 2010

Verve Wireless Inc., a provider of mobile publishing and advertising technologies to local media companies, closed a round of financing led by BlueRun Ventures that secured the company $7 million in funding. Previous investor The Associated Press and others participated in the round. According to the company, the capital will be used to further develop and expand Verve's products and services.

Verve offers local publishers technology to distribute and manage news and targeted advertising across a wide variety of mobile platforms, including the iPhone and Android platforms. The platform and tools are used by more than 750 media companies worldwide, including McClatchy, Belo Interactive, and The Associated Press.

According to the company, more than 14 million readers accessed news from mobile devices via Verve's mobile publishing platform in July, a 151 percent increase over the prior year period. Verve also served 150 million mobile news pages in July, a 105 percent increase year over year.