London - Amobee Media Systems, a developer of mobile phone advertising technology, has raised between $15 and $20 million in its second round of venture capital financing, Israeli business news site Globes.co.il reported.

Investors participating in the round included Sequoia Capital, Accel Partners and Globespan Capital Partners. Founded in 2005 as Upsteed, the company is developing mobile ad technology that it says will lower service charges for users.

The company raised $5 million from Sequoia Capital and Accel Partners last year. Globes reported that Amobee, which maintains a research and development facility in Herzliya, Israel, has conducted trials of its technology with France Telecom and Vodafone, with participating advertisers including Adidas and Unilever. 

Related Links:
http://www.globes.co.il/serveen/globes/docview.asp?did=1000169554&fid=942
http://www.amobee.com