Mobile ad network madvertise might have tripled its turnover in the first half of 2011, but the company is still seeking investment, closing a $10 million funding round to cement its European operations.

The round, which was led by existing investor Earlybird and newcomer Blumberg Capital from the US, will be put towards both strengthening the Berlin-based firm's position in German-speaking markets, as well as expanding to new territories – specifically the UK.

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"The second round funding from a Silicon Valley investor demonstrates the dynamic potential of the mobile advertising market in Europe and confirms madvertise's strategy," said madvertise CEO and co-founder Carsten Frien.

"The investment of renowned US investor Blumberg Capital is recognition of our strong market vision, outstanding technology and rapid execution, which has seen madvertise become one of Europe's leading mobile advertising networks.

"With Earlybird, who has significantly increased its investment in the B round, we already have one of the leading European VCs on board, so it is an ideal combination."

The firm claims it has already built one of the largest ad networks for mobile in Europe, taking top position in Germany, Austria and Switzerland.