Mobile ad platform Flurry gets a cash injection

There’s money in those mobile ad hills!

Just a day after new ad platform MoPub received seed funding, smartphone application ads and analytics platform Flurry, gets $15 million in Series C round financing. The round was led by US Venture capitalists Menlo Ventures and included existing investors, Draper Fisher Jurvetson, InterWest, First Round Capital and Union Square Ventures.

The fact that VCs are still willing to invest in new ad platforms proves that there’s still the potential for new entrants to get at least some of the market, and that the mobile ad market isn’t already divided up between the current big cheeses of Google, Apple, Millennial Media, Yahoo and Microsoft. Although it’s going to take a company with deep pockets and a very good product to grab any market share from the current market leaders Apple and Google.

Flurry intends to use the funds to expand the reach of its Flurry Analytics and AppCircle services across the top mobile application platforms, including iOS and Android. The funds will also be used to expand sales and marketing, as well as accelerate the development of new services that change the way advertisers engage with consumers through mobile applications.

“Flurry plays a fundamental role in the booming mobile application market,” said Sonja Hoel Perkins, Menlo Ventures Managing Director. “More importantly, Flurry has positioned itself like no other company to help mobile app developers solve critical audience segmentation, distribution and monetization challenges.”

In November 2010, Flurry measured 5 billion anonymous, aggregated end-user sessions from over 100 million unique devices for a total of more than 35 billion data transactions. The company also announced that over 30 million unique users have viewed an AppCircle application recommendation and millions of apps have been downloaded as a result of AppCircle-targeted recommendations.

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