Velti Just Closed A $27 Million Mobile Marketing Deal

Alex MoukasVelti CEO Alex Moukas

Photo: Velti

Mobile ad company Velti has just closed what it describes as “a $27 million, 2-year deal to provide its mobile marketing technology to a major U.S. brand.”The company declined to name the client, but given that Velti’s Q2 2012 revenue was $59 million, the deal would make it one of Velti’s biggest clients.

Work on the new client is “expected to commence in the next few weeks, this program will drive increased engagement with and long-term loyalty of the brand’s existing customers,” the company said.

A spokesperson would say only that the deal was for a “customer engagement and loyalty program,” not advertising.

The deal is another sign that serious money is arriving in mobile ad networks. Mobile adspend is expected to reach $2.6 billion in 2012, according to eMarketer.

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