Make Mine Mobile

Make Mine Mobile

Medialets Raises $8.4 Million as Mobile Ad Market Surges

Eric Litman - image via BI

With smartphones and tablets breaking away from the pack as the next phase of personal computing, advertising on these devices ┬áis poised to become big business. New York’s Medialets, a mobile rich media advertising firms, has been beating Apple on their home turf and capturing dollars from some big brands and publishers. They have now raised a fresh $8.4 million, bringing their total to $18 million.

Peter Kafka broke the news based on an SEC filing. He found previous backers DFJ Gotham and Foundry Group had reinvested, and Medialets CEO Eric Litman confirmed that there were some new investors as well. In that interview he confirmed most of the companies business still revolves around in-app advertising, but Medialets has recently created a self-serve advertising platform and moved into advertising on the mobile web. Read More