Mobile ad co Amobee nears close of financing round

Cisco Ventures and Motorola Ventures are leading the $22 million round.

Sources inform ''Globes'' that mobile advertising content provider Amobee Ltd. is about to close its third financing round at $22 million. Cisco Ventures LLC and Motorola Ventures are leading the round, alongside current investors Vodafone plc (NYSE; LSE: VOD) and Telefonica SA (NYSE; IBEX:TEF; LSE:TDE), Accel Partners and Sequoia Capital

The company raised $5 million earlier this year and will have raised a total of $52 million when the present round is completed. The company was founded in 2005 and has developed an advertising campaign management platform that converts ads into relevant mobile formats: video clips, music, MMS, SMS, and games.

Published by Globes [online], Israel business news - www.globes-online.com - on August 6, 2008

© Copyright of Globes Publisher Itonut (1983) Ltd. 2008

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