Mobile Ad Firm Millennial Media Raises $16 Million

Authored by Mark Hefflinger on November 16, 2009 - 8:46am.

Baltimore - Millennial Media, a provider of mobile advertising technology and services, said on Monday that it has raised $16 million in its third round of funding, led by New Enterprise Associates (NEA).

Previous investors Bessemer Venture Partners, Columbia Capital and Charles River Ventures also participated in the round, which the company will use to expand its presence in Europe, grow its engineering and sales teams and increase penetration of its mobile media planning platform for agencies.

Three-year-old Millennial also expects the new backing to carry it into profitability, and now has raised more than $37 million since its inception.

The news comes a week after Google paid $750 million in stock to acquire the company's top competitor, AdMob.

Baltimore-based Millennial said that its mobile ad network reaches a larger U.S. audience than any of its rivals, with clients including Ask.com, the Discovery Channel, the CW, VH-1, Major League Baseball and TV Guide.

Related Links:
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http://www.millennialmedia.com

Published in DMW Daily, November 16, 2009

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Comments

Millennial and AdMob

Submitted by mobiThinking (not verified) on November 17, 2009 - 1:26am.

It’s interesting to see that Millennial is taking PE investment, when the pundits were predicted a gold rush of acquisitions of mobile ad networks, following Google/AdMob. Perhaps this has something to do with the different business models of Millennial and AdMob? If you want to learn more about Millennial, AdMob and other ad networks may I suggest this guide to mobile ad networks: http://www.mobithinking.com/mobile-ad-network-guide