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Medialets raises $10 million in Series C round

Brings total to $28.4 million

Medialets raises $10 million in Series C round
By Jon Jordan
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They say it's easiest to raise money when you don't really need it.

Given the booming nature of the mobile advertising market that might be one of the reasons behind Medialets' announcements that it's taken a further $10 million - its Series C round.

This brings its total funding to $28.4 million. It previously raised $8.4 million in November 2011.

Good for growth

The round was provided by Greenspring Associates, and Medialets says it will use the cash to 'accelerate the growth of its mobile and tablet advertising platform'.

Most recently, it announced the launch of its real-time bidding platform; something that all mobile ad networks are focusing on because of the control and flexibility it provides.

Medialets says that compared to 2011, the first nine months of 2012 have seen its buy side business more than triple.

[source: Medialets]

Jon Jordan
Jon Jordan
A Pocket Gamer co-founder, Jon can turn his hand to anything except hand turning. He is editor-at-large at PG.biz which means he can arrive anywhere in the world, acting like a slightly confused uncle looking for the way out. He likes letters, cameras, imaginary numbers and legumes.