Thursday, November 20, 2008

Another Mobile Ad Network Company Raises Capital

Apptera, a bobile advertising network company, announced that it has closed a $10.5 M financing round led by Alloy Ventures, Lightspeed Venture Partners, and Walden International. The company is also announcing that David Karnstedt, Yahoo’s former SVP of North American Sales who has extensive experience in advertising, has joined its board.

While note a name brand company, Apptera is behind many of the voice ads when you hear on free 411 services, as well as the ads found on AOL’s Moviefone. The company estimates that its ads reach over 100 million users a year, with huge growth rates as more companies expand to take advantage of mobile platforms.

Other mobile ad related companies that have received financing over the last few months include Jumptap ($26M), Admob ($16M) and MobilePeople ($8M).

Someone should tell the mobile ad network companies that its too hard to raise money in this economy!