Millennial Media Raises $16M in Growth Equity Financing

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Business:  Millennial Media
Database Reference:  F231109-239
Location:  USA, Baltimore, MD
Region:  North America
Business description:  Mobile ad network
Contact:  Paul Palmieri, President and CEO
Investor 1:  New Enterprise Associates (NEA)
Investor 2:  Bessemer Venture Partners
Investor 3:  Columbia Capital
Investor 4:  Charles River Ventures
Round:  Round C
Aprox. amount:  $16,000,000
Participants:  4
Details:  Millennial Media has closed a $16M Series C round of growth funding, led by New Enterprise Associates (NEA) with existing investors Bessemer Venture Partners, Columbia Capital, and Charles River Ventures participating. The new growth financing will be used to continue to strengthen Millennial Media’s position as the leading mobile ad network in the U.S., as well as finance accelerated international expansion, advanced targeting products, and wider-penetration of its mobile media planning platform for agencies.

Links:  Press release

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