Exclusive: Mobile advertising company 4INFO has raised an additional $14 million in funding led by Paul G. Allen’s Vulcan Capital, with Mitsui Global Investment and existing investors Draper Fisher Jurvetson, Gannett, Mezzanine Capital and U.S. Venture Partners participating. This brings 4INFO’s total funding to $52 million.
Founded in 2005, 4INFO has dominated the SMS ad space, with roughly 3,000 publishers on its msgHaven platform. For those unfamiliar with their B2B product, 4INFO’s publishing platform helps publishers manage their SMS content and delivery. MsgHaven delivers around 400 million text messages each month (which has doubled in the past year).
But last year, the network expanded to mobile advertising via display/apps through its AdHaven platform and audience network. The AdHaven Mobile Audience Platform includes a next-generation mobile ad server with advanced targeting and data management capabilities.
AdHaven can serve 360-degree mobile advertising campaigns across the mobile Web, rich media, mobile video, applications, tablets, and SMS. Advertisers can integrate AdHaven’s targeting technology into their existing exchanges and networks.
And today, the company is announcing that it is spinning out AdHaven from 4INFO as a separate company due to the success of the product. 4INFO’s CEO Zaw Thet says that AdHaven is now reaching 90 million uniques per month.
As Thet explains, “it’s time for the mobile advertising industry to catch up with the targeting and data capabilities that media buyers demand from online advertising.” AdHaven provides that audience targeting option for advertisers.
The new funding will be used towards expanding the AdHaven platform. The company will also be looking at making strategic acquisitions in the near future. Last year, 4INFO bought Butter, a company that specializes in creating customized mobile solutions and ad campaigns for the iPhone and Android platform. 4INFO will also be looking to expand internationally. And the company is profitable.