MoPub raises $12 million in Series B round

Two years on from its founding and everything's going very well for MoPub.

The San Francisco-based ad mediation outfit has just closed its Series B funding round.

Led by Jafco Ventures, whose general partner Jeb Miller joins the MoPub board, it raised $12 million.

Also participating were existing investors Accel Partners and Harrison Metal Capital, while there was a strategic investment from Iris Capital, the European group managing the joint venture of Orange and Publicis Groupe.

The company previously raised $6.5 million in July 2011.

The big area of growth for MoPub has been its real-time bidding marketplace.

It connects publishers to over forty demand-side platforms and ad networks within a competitive auction environment.

"This newest round of funding will enable us to take our technology and team to the next level," stated MoPub.

"It also lets us invest in special projects and initiatives that help the industry develop a better understanding of the challenges and, perhaps more important, the untapped opportunities in how mobile ads are managed today."

It's looking to expand internationally, too, with UK, Europe and Asia in the crosshairs.

[source: MoPub]