AdMob Raises $15.7 Million for Mobile Advertising

Authored by Mark Hefflinger on October 22, 2008 - 8:09am.

San Mateo, Calif. - AdMob, a developer of mobile advertising technology, announced that it has raised $15.7 million in its third round of funding, led by Sequoia Capital's Growth Fund.

Previous investor Accel Partners also participated.

Founded in 2006, San Mateo, Calif.-based AdMob lets advertisers use self-serve tools to target mobile ads by country, language, carrier, and phone brand, model and OS.

The company says it serves more than 4.5 billion mobile banner and text ads per month.

AdMob will use the new funds for expanding overseas staff, product development, and sales and business development efforts.

http://www.admob.com