Mobile ad network Medialets raises $8.4 million

Brings total funding to date to $18.4 million

Mobile ad network Medialets raises $8.4 million
//Update: Medialets has now officially announced the investment to "continue to fuel our growth". Investors weren't revealed however.

As reported in an SEC filing on Wednesday 9 November, mobile advertising and analytics firm Medialets has raised a total of $8.4 million in what could be considered its Series C funding round.

However, it's not officially announced the deal, nor where the funding has come from, but having previously received backing from 500 Startups, Great Barn Ventures, The Foundry Group and DFJ Gotham, it's likely some or all of those are involved again.

This reticence could mean it's more of a refinancing deal as opposed to a true Series C round. 

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The previous funding round raised a figure of $6 million, which was to be spent on ad expansion. The total amount of funding the company has received to date sits at $18.4 million, which isn't a lot compared to other players in the field.

In 2010, Medialets expanded its coverage to include Android and BlackBerry as well as iOS. It's expected that support for Windows Phone will arrive in the future.

[source: SEC, TechCrunch]

When Matt was 7 years old he didn't write to Santa like the other little boys and girls. He wrote to Mario. When the rotund plumber replied, Matt's dedication to a life of gaming was established. Like an otaku David Carradine, he wandered the planet until becoming a writer at Pocket Gamer.