Medialets Raises $4 Million In First Round For Mobile Ad Technology

imageMedialets, a New York-based company that has become well-known for providing analytical information about iPhone applications after launching the same day as Apple’s App Store, has raised $4 million in a first round of funding. Investors in the round include the Foundry Group, DFJ Gotham and strategic investor Bobby Yazdani, an early investor in Google.

Medialets helps companies keep track of their audience and monetize applications built for the iPhone and Android with support coming this year for BlackBerry, Windows Mobile, Symbian and Palm (NSDQ: PALM). The money will be used to build-out the platform further and “win market share,” according to Eric Litman, Medialets’ Chairman and CEO.

Check out more analysis and the video, after the jump.

In the past year, the company has signed up more than 1,000 publishers to use Medialets on the iPhone and more than 200 on Android. It makes money by charging for ad serving and targeting technologies. Analytics are provided for free. One well known project that Medialets worked on was the “world’s first shakable advertisement for Dockers,” in which users shake their phone to make the guy dance in a pair of Dockers.