Jelli Secures $7 Million In Funding
May 13, 2010 at 6:01 AM (PT)
JELLI has closed a $7 million Series A round of funding led by BATTERY VENTURES, with participation from FIRST ROUND CAPITAL. The funding will be used for radio market expansion, new product development and team growth. BATTERY VENTURES partner and former GOOGLE executive SATYA PATEL, will take a seat on the company board.
"While the digital music and Internet radio industries have been booming, where's the innovation in traditional radio?" said PATEL. "Finally, JELLI is introducing disruptive technology that helps terrestrial radio become a 21st century digital business. Today's consumers are accustomed to a customizable, interactive and social media experience, and JELLI delivers that for a business that has been limited to two-way communication by call-in or SMS. We think the JELLI team has developed an incredible business, the vision to revolutionize terrestrial radio, and the talent to make it all happen. We are thrilled to be partners in their growth."