AdMob announced that it has raised an additional $12.5 million in a Series C extension round. Two investors participated — Draper Fisher Jurvetson’s (DFJ) Growth Fund and Northgate Capital — adding to the combined $28.2 million that the mobile advertising company raised in Series C round.
From the money raised in the Series C round, AdMob plans to:
- Accelerate the growth of worldwide operations by hiring local staff in key markets and adding new language interfaces, with an emphasis in Western Europe, India, South Africa, and Japan
- Deepen the investment in the company’s mobile technology platform, including its targeting, optimization, and ad serving algorithm
- Expand the breadth of offerings for both publishers and advertisers
- Increase the leadership position in the U.S. by growing AdMob’s sales and business development teams
At the end, AdMob’s goal is come out of the challenging economic environment even stronger than when they went in. All I can say is good luck! 😉