Mobile ad specialist targets US consolidation and overseas growth.
The funding, led by New Enterprise Associates with existing investors Bessemer Venture Partners, Columbia Capital, and Charles River Ventures, should strengthen Millennial's position in the mobile display ad market.
It was launched in May 2006, and now claims to reach 79 per cent of the US mobile audience.
“Today, Millennial Media reaches more US consumers on mobile devices than any media company large or small,” said Paul Palmieri, CEO of Millennial Media.
“We chose to raise this round of growth capital to continue to drive the growth of the overall market and expand our substantial leadership position in it by focusing on the needs of advertisers.”
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