LSN Mobile Raises $5 Million in Growth Capital from Fulcrum Equity Partners Local Mobile Media and Advertising Company to Invest in Advertising Technology and Affiliate Expansion
ATLANTA, April 19, 2013 /PRNewswire/ -- LSN Mobile, a mobile media and advertising company that connects local mobile media with consumers and advertisers in uniquely valuable ways, today announced the company has raised $5 million in growth capital from Atlanta-based Fulcrum Equity Partners. The new financing will be invested in enhancing its advertising and product capabilities and continuing to expand its local media and affiliate network.
"This latest round of financing reflects investors' strong beliefs in LSN Mobile's ability to provide significant ROI and capitalize on an opportunity within the marketplace," said Louis Gump, president and CEO of LSN Mobile. "In addition, it will allow us to further enhance our product offerings, allowing us to better serve our advertising and media partners."
Founded in 2001, LSN has over 200 content providers in 48 states across the country. Through partnerships with leading broadcast affiliates with major networks including ABC, CBS, NBC, and Univision, the company empowers media companies and advertisers to deliver messaging to local audiences on their mobile phones and devices, through mobile websites, mobile display advertising, text alert sponsorship, mobile marketing campaigns and more.
"Louis and his team have a track record of success in mobile media and we look forward to partnering with them as they continue to penetrate the space," said Frank X. Dalton, partner at Fulcrum. "Consumers rely on local media to stay connected to their communities and we see tremendous potential in LSN Mobile's distinct ability to deliver messages to mobile users in a place where they feel comfortable and interested."
LSN Mobile has contributed to the mobile advertising sector by expanding the market for advertisers to geo-target brand messages within a hyper-defined, local market. LSN Mobile's network of local media outlets and affiliates reaches viewers of news sites nationwide, reassuring advertisers that they are reaching the demographic profiles they desire.
About LSN Mobile, Inc.
Headquartered in Atlanta, Georgia, LSN Mobile is a mobile media and advertising company that connects local mobile media with consumers and advertisers in uniquely valuable ways. Representing leading affiliates from networks including ABC, NBC, CBS, Fox and Univision, LSN Mobile has the nation's largest network of local media content and currently offers news, weather, sports and more to millions of mobile users in both English and Spanish. LSN Mobile's "Local News, Weather and More" mobile apps for Android, iPhone, and BlackBerry platforms are among the top ten free downloadable local news applications. To learn more, please visit www.lsnmobile.com.
About Fulcrum Equity Partners
Fulcrum Equity Partners is a growth equity fund based in Atlanta, Georgia with over $140 million under management. Fulcrum invests in a wide variety of industries with an emphasis on information technology, healthcare, business services and technology enabled operating companies. Fulcrum provides initial equity financing of $1-5 million and up to $10 million over the life of the investment to meet a wide range of needs including internal growth initiatives, acquisitions, management buy-outs, shareholder liquidity and recapitalizations.
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SOURCE LSN Mobile