Medialets Raises $10 Million; Triples Buy Side Revenue
by Eric Litman
Today we’re excited to share that Medialets has closed $10 million dollars from Greenspring Associates to accelerate the growth of our mobile and tablet advertising platform.
Since 2008 Medialets has been dedicated to enabling the industry’s most effective mobile advertising campaigns. In the time since we launched, we’ve had extraordinary visibility into the challenges that both advertisers and publishers face when taking a mobile ad to market. The fragmented device landscape, vast array of disparate ad specs and lack of standards in reporting metrics and methodologies are just a few things that can chip away at the value of a marketer’s dollar. And, while there are many companies focused on solving individual pieces of the overall process, the vast array of solutions available to a marketer can be daunting.
In short, for all its value as an advertising channel, mobile can be much harder than it needs to be for marketers.
Medialets’ mission is to make it easier, and we do that by providing marketers and publishers with a single solution that addresses every nuance of mobile throughout each phase of a mobile advertising campaign. It’s an approach that has been very well-received in the market; through the first nine months of 2012, Medialets’ buy side business more than tripled compared to the same period in 2011. This additional funding enables us to quicken our pace of growth domestically and internationally, helps us to build a world-class service organization and creates opportunities for us to consider a wide range of strategic growth options.
This is a phenomenal time for the mobile advertising industry — the IAB recently reported that mobile advertising doubled year-over-year in the first half of 2012 to $1.2 billion. We’re thrilled to be at the forefront of the mobile advertising opportunity and we thank our customers, partners and investors for their continued support.
To learn more about Medialets for your next campaign, contact us.