Hearst Interactive Media throws $5m at the real-time bidding specialist.
The mobile ad market is exploding and yet still represents just a fraction of total ad spend.
Investors clearly believe the space is a good bet, and Nexage is among those reaping the benefits.
It's a specialist in providing the kind of real time bidding platforms for mobile that are now well-established in the digital ad space.
In a traditional mobile ad network, advertisers are assigned a pre-determined set of impressions, and have to hope the best leads are among them.
With RTB they can monitor traffic across multiple networks, identify the consumers they want to reach and deliver targeted advertising to them in real time.
Ernie Cormier, CEO and president of Nexage, said: "Our mission remains the same with this additional Series B funding: to extend our RTB leadership, champion and support the needs of our premium customers, and accelerate the maturity of the mobile advertising market."
Nexage currently connects over 300 publishers and developers with over 150 demand sources.
Alongside Hearst, investors included SingTel Innov8, Relay Ventures and GrandBanks Capital.