AdMob raises $15m from Sequoia and Accel
AdMob says it raised USD15m in Series B investments with money coming from Accel Partners and previous investor Sequoia Capital (Sequoia had already invested an estimated USD4m). The money will be used to develop new advertising solutions and improve the existing platform to make it easier for current advertisers to manage their promotion.
The company claims to have served over 1.6bn advertisements across 160 companies in less than a year, and suggests that they have delivered more than rivals such as Enpocket and Rhythm NewMedia. Having passed the 1bn advert level in January, AdMob claims to have accelerated and delivered 600m in the February and March to date. Its nearest competitor Third Screen Media (which is speculatively rumoured to be in acquisition talks with AOL for $80m or so) claims to serve an estimated 350m advertisements every month.
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