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Nexage raises $4 million from BlackBerry Fund

Platform to aggregate mobile ad networks
Nexage raises $4 million from BlackBerry Fund
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One of the biggest problems faced by mobile software developers in attempting to promote their products is being locked to a single advertising network.

Mobile ad company Nexage has just completed its first round of capital building, raising $4 million from investors including BlackBerry Partners Fund and GrandBanks Capital. This funding will be used to expand its AdMax Gateway platform, which converts an advertisement on the fly to a variety of different formats, including video, audio, text messaging and in-game advertising.

The company also aggregates around 24 different mobile ad networks, meaning developers have a far greater scope for targeting specific customer bases.

Nexage is now concentrating on working with app store owners such as Apple and Nokia, helping them to open up their online storefronts, providing easier, simple access to application developers.