The mobile advertising group, AdMob has closed a further US$15 million in venture capital funding. The Series B financing round was led by Accel Partners, with previous investor Sequoia Capital participating as well. The company says that it will use the funds to develop new solutions that will make it easier for advertising customers to leverage mobile.
"Mobile Advertising is exploding as advertisers of all types learn to leverage the mobile medium," says Rich Wong, Partner at Accel Partners, who will join the board. "We're excited to work with AdMob and believe that the AdMob platform and unique international footprint are ideally positioned to serve publishers and advertisers in mobile, and set the direction in this dynamic market."
In January, AdMob announced that it had served 1 Billion ads in the trailing six months. Demonstrating the acceleration in the market, AdMob has served more than 600 Million ads in the last 60 days bringing the total to over 1.6 Billion. Much of this growth has been fueled by growing activity in the US and Europe.
Advertisers are increasing their use of AdMob's platform to reach customers on their mobile phones using different targeting capabilities.
Some statistics on targeting included:
- 95.2 % of AdMob ads leveraged geographic targeting
- 63.2 % of AdMob ads leveraged behavioral or demographic targeting
- 20.2 % of AdMob ads leveraged handset targeting by manufacturer
- 9.1 % of AdMob ads leveraged targeting based on device capabilities
- 3.7 % of AdMob ads were run-of-network ads running viewed in over 150 countries worldwide.
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