Millennial Media Raises $27.5M in Equity Funding

Millennial Media, a Baltimore, Maryland-based mobile advertising company, has raised an additional $27.5m in growth equity funding.
Investors include Bessemer Venture Partners, Columbia Capital, Charles River Ventures (CRV), and New Enterprise Associates (NEA).
This brings the total amount raised by the company in equity to date to over $65m.
The funds will be used to make additional acquisitions and investments in international and platform lines of business. In 2010, Millennial Media acquired TapMetrics, a mobile analytics company.
Launched more than four years ago and led by president and CEO Paul Palmieri, the company operates mobile ad networks that reach target and engage mobile consumers in more than 250 countries. In addition, its decisioning, serving, and mediation platforms allow partners, including leading media companies, OEMs, and mobile application developers to operate mobile advertising programs.
Millennial Media has offices in New York, London, and San Francisco; with sales offices in Detroit, Los Angeles, Chicago, Dallas, and Atlanta.

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