Mobile Marketer Adenyo Completes $26.9 Million Financing


Mobile ad campaign manager Adenyo has raised a large $26.9 million round, consisting of both institutional and private placement funding. The company, which has offices in Dallas and Toronto, plans to use the proceeds to promote an international expansion. Formerly known as Silverback Media, Adenyo provides a range of services, including marketing and mobile ad serving, mobile storefronts, coupons and payments, and analytics. The financing includes a $17.2 million institutional round led by Genuity Capital Markets as well as $9.7 million in private placements since July 2009.

The significant amount of capital is also designed to help it fend off an increasingly crowded marketplace, as mobile advertising starts to take hold. Just this past week, mobile ad network aggregator Mobclix acquired iPhone app analytics provider Heartbeat from New York-based Enormego. Also on the analytics front, in December, Flurry merged with Pinch Media to combine the two mobile analytics companies.

Meanwhile, the mobile ad network space is also pretty hot. At the start of the year, Apple (NSDQ: AAPL) bought Quattro Wireless in an attempt, at least in part, to counter Google’s $750 million purchase of AdMob. With all that money in the bank, it’s very likely that Adenyo, which is trying to position itself as a one-stop mobile marketing shop, will pursue some smaller companies around the globe as well. Release (PDF)

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