Mobile advertising firm 4INFO raises $14M

Mobile advertising and media company 4INFO has completed an additional venture funding round totaling $14 million. Microsoft (NASDAQ:MSFT) co-founder Paul G. Allen's Vulcan Capital and Mitsui Global Investment led the round, with contributions from existing investors Draper Fisher Jurvetson, Gannett, Mezzanine Capital and U.S. Venture Partners. The funding brings 4INFO's total investment to date to $52 million.

According to 4INFO, the capital will support the expansion of its AdHaven mobile audience platform, which enables advertisers to roll out campaigns spanning the mobile web, rich media, mobile video, applications, tablets and SMS. 4INFO additionally will spin off AdHaven as a separate division dedicated to mobile ad technology and sales--the unit will also be responsible for extending the platform's list of partners to include consumer data providers, publishers, app developers, inventory exchanges, demand side platforms, supply side platforms, trading desks, real-time-bidding and related inventory and ad sources.

4INFO reports that AdHaven promotions now reach 90 million unique consumers each month. Clients include Ford, Universal Pictures, KFC, Kmart, Amtrak and Proctor & Gamble.

For more:
- read this release

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