Jelli Lands $9 Million In Funding
CEO Michael Dougherty says 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. Intel Capital and Relay Ventures have received seats on the company's board of directors. The funding will be used for product development and sales growth.
Dougherty says, “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.”
Additionally, Jelli announced that over 70 affiliates across the United States now use the Jelli platform, increasing listeners of Jelli-powered programming by 250 percent over the last 12 months, to approximately two million listeners per month. During that same timeframe, total ad impressions served by the Jelli platform increased by over 500 percent, 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, due to the use of the Jelli platform.
Add a Comment