Jelli Closes $9 Million Funding Round
October 2, 2012 at 12:33 PM (PT)
JELLI has closed a $9 million round of funding led by new investors INTEL CAPITAL and RELAY VENTURES, with participation from existing investor FIRST ROUND CAPITAL and individual investors including former chairman of EMI MUSIC ROGER AMES. The funding will be used for product development and sales growth. INTEL CAPITAL and RELAY VENTURES have received seats on the company's board of directors.
"RELAY VENTURES and INTEL CAPITAL's deep experience and global scale with mobile and cloud computing will be invaluable to JELLI as we seek to develop a new platform for the radio industry," said JELLI CEO MIKE DOUGHERTY.
Additionally, JELLI announced that over 70 affiliates across the UNITED STATES now use the JELLI Platform, increasing listeners of JELLI-powered programming by 250% over the last twelve months, to approximately 2 million listeners per month. During that same time frame, total ad impressions served by the JELLI Platform increased by over 500%, to over 60 million per month. JELLI's radio affiliate partners saw increases in ratings, revenue, online traffic and FACEBOOK Page Likes at their stations.
"JELLI creates an active feedback loop for traditional radio broadcasts that drives value for listeners, stations and advertisers alike," said INTEL CAPITAL Dir. CHRISTINE HERRON. "Through its cloud platform, JELLI delivers real-time measurement and cross-platform engagement to an established medium, and disrupts a massive market."
"JELLI bridges offline and online media, transforming how audiences and advertisers engage with a $40 billion global market," said RELAY VENTURES Managing Partner KEVIN TALBOT. "JELLI is part of a huge trend to improve the real world by harnessing powerful and simple mobile experiences."