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Summary:

The mobile ad space is continuing its rapid growth and so Medialets has chosen a good time to close a $6 million second round funding. The r…

Eric Litman, CEO, Medialets

The mobile ad space is continuing its rapid growth and so Medialets has chosen a good time to close a $6 million second round funding. The round was led by the Foundry Group, with participation from DFJ Gotham, 500 Startups and former Gannett (NYSE: GCI) chief digital officer Chris Saridakis, who is now CEO of GSI Commerce’s Marketing Services unit.

The New York startup plans to use the proceeds to build up its mobile rich media services across a range of platforms, most notably Apple’s iPhone and iPad systems, as well as Google’s Android platform, in addition to others.

Medialets, which was founded two years ago, lets marketers track of their audience and sell ads across apps. Since raising its $4 million first round in May ’09, the mobile landscape has changed greatly with the introduction of Apple’s iAd system, which places an emphasis on mobile rich media ads. With competition rising from Google (NSDQ: GOOG), Medialets has already been establishing itself early on.

One of the ways its been trying to solidify its lead is through some important connections its made through hiring and board appointments. Keith Gelles, co-founder of PointRoll and former colleague of Saridakis, joined Medialets as CTO in July 2009; two months after that, Aaron Mittman, a former executive at DoubleClick, joined the team as VP of global sales. The board includes Greg Tagaris, former CIO DoubleClick, Andy Ellenthal, CEO of Peer39, Ari Paparo, a former Nielsen and Google exec, and Colin Crawford, former CEO of MacWorld/PC World. Release

  1. great company! looks like saridakis is backing all his former employees from doubleclick and pointroll. very smart move.

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