Reveals its revenues tripled in 2010.
Mobile advertising firm Millennial Media has announced a new $27.5 million funding round, and says its revenues tripled last year.
The round takes the company's total equity funding to more than $65 million. Bessemer Venture Partners, Columbia Capital, Charles River Ventures and New Enterprise Associates all took part.
The company says it will use the new funds to make several acquisitions this year, while also investing in its international expansion and its advertising platform.
"In 2010, our business grew at an accelerated pace," says president and CEO Paul Palmieri. "We reached operational profitability, while growing revenue by 3x in 2010 as compared to 2009."
The company cites IDC stats as showing it took a 15.4% share of the mobile display advertising industry in December, behind only Google/AdMob (19%) and Apple/iAd (18.8%).
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