Medialets Raises $10 Million from Greenspring Associates

Ashton Newhall

Medialets has closed a $10 million round of funding from Owings Mills-based Greenspring Associates, the company said. The New York startup, founded in 2008, plans to use the funds to accelerate the growth of its mobile and tablet advertising platform.

“In the time since we launched, we’ve had extraordinary visibility into the challenges that both advertisers and publishers face when taking a mobile ad to market. The fragmented device landscape, vast array of disparate ad specs and lack of standards in reporting metrics and methodologies are just a few things that can chip away at the value of a marketer’s dollar,” Medialets said in a statement.

While there are many companies focused on solving individual pieces of the overall process, the vast array of solutions available to a marketer can be daunting, it added.

Medialets makes it easier for marketers and publishers to address the nuances of mobile advertising campaigns.

“This is a phenomenal time for the mobile advertising industry — the IAB recently reported that mobile advertising doubled year-over-year in the first half of 2012 to $1.2 billion,” Medialets said.

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