There has been some big consolidation in the mobile advertising market, but here’s another vote in favor of the independents: mobile advertising network Mojiva has picked up $25 million in funding.
The news was first revealed by Mojiva in an SEC filing yesterday. Investors in this current round were led by Shamrock Capital Advisors, and Pelion Venture Partners and Bertelsmann Digital Media Investments also participated according to AdAge. The company has raised $35 million to date.
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Mojiva, which offers a mobile advertising network along the lines of Google’s AdMob, says it serves some 18 billion ad impressions per month, working with publishers like Hachette and Rovio.
The company told AdAge that it will use the funding for further international investment. Headquartered in New York, it also has an office in London and is apparently also looking to expand into China.
What’s not clear is whether the investment will be used solely for Mojiva, or whether some will also be allocated to mOcean, the mobile ad serving and campaign management company that it spun off Mojiva in 2009 into its own subsidiary. Dave Gwozdz, who had been one of the founders of DoubleClick (sold to Google (NSDQ: GOOG) for $3 billion in 2008), is the CEO of both.
The news follows a big round of funding for another independent ad network, Jumptap, which also picked up $25 million earlier this year.
The CEO is in London this week and we hope to catch up more with him then.
Related StoriesPosted In: Advertising, Mobile, Money, M&A & Venture Capital, Venture Capital, Companies, Google, bertelsmann digital media investments, mojiva, pelion venture partners, shamrock
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