Time Warner Investments, the strategic investment subsidiary of media and entertainment conglomerate Time Warner, has led a $10m series C round for US-based mobile advertising marketplace YieldMo.
Google Ventures, the corporate venturing arm of internet company Google, Union Square Ventures, Genacast, Rhodium, and Dace Ventures.
YieldMo has created a marketplace in which advertisers can buy non-banner ad placements on the mobile pages and apps of publishers including those owned by Time Warner.
The company will use the funding to develop both its marketplace and Ad Format Lab, which researches new ways to deliver advertising content on mobile app pages, and to hire another 40 employees.
Allison Goldberg, managing director of Time Warner Investments, said: “Properties within the Time Warner portfolio partnered with YieldMo and are experiencing impressive results. We support and believe in the solution that YieldMo is building to shape the future of mobile advertising, and we are thrilled to be a part of it.”
YieldMo has now raised $21.1m in overall funding, including $8m from a Google Ventures-led series B round in December 2013.