Taptu, the pure-play mobile search engine, has secured £6.45m in series B funding from its existing investors 3i and Sofinnova investments and has appointed Andreas Bernstrom to the position of Chief Operating Officer (COO). Bernstrom will be part of Taptu's senior management team, responsible for managing the company's commercial growth and formalising Taptu's mobile advertising position, worldwide.
The funding was secured in recognition of the success that Taptu has already achieved both here and in the United States, and to accelerate Taptu's continued growth over the next 12 months.
Bernstrom has over 10 years experience driving growth in digital marketing companies. Previously COO at TradeDoubler, a leading Internet marketing company, Bernstrom expanded and grew the company in 19 markets, managing over 550 staff, and was responsible for driving the product development, marketing, sales and distribution strategies for its search, affiliate and technology products. Before working at TradeDoubler, he worked at Goldman Sachs and Merrill Lynch.
Bernstrom said: "With significant funding achieved, in a market where investment is hard to come by, we are poised to become an attractive proposition for marketers and advertisers looking to capitalise on the explosion in mobile web usage - Gartner reveals that mobile data revenues overtook voice revenues for the first time in 2008 and that mobile search will be worth USD 12 Billion by 2013. We are best placed to offer marketers the most engaging environment in which to reach consumers with carefully targeted, relevant advertising."
Steves Ives CEO and founder of Taptu said: "Taptu has had a stellar year, having won numerous awards including Best Mobile Search provider 2008 at the MEA awards and now achieving Series B funding from our investors Its great timing to bring Andreas on Board. He brings with him valuable experience that will help us drive Taptu forward as a business and will play an important part in developing our business presence overseas as well as maintaining momentum in the UK."
Oliver Sichel, Partner at Sofinnova Investments says: "With the ever-increasing adoption of the mobile internet, thanks to improved networks and new multimedia handsets, Sofinnova is extremely pleased and proud to continue to support Taptu. We have seen dramatic improvements in the Taptu service and huge growth in users over the last 12 months. Andreas Bernstrom brings with him tremendous experience in helping companies achieve sustained growth."