Boston based mobile advertising exchange company Nexage, has raised an additional $5m in Series B funding from US-based media company Hearst Interactive Media. contributed to a total of $15m along with Singtel Innov8, Grandbanks Capital and Relay Ventures. On 6th June, Nexage closed a $10m deal with Singtel Innov8, the corporate venturing unit of the Singtel Group, an Asian telecommunications group. Chief Executive Officer of Nexage, Ernie Cormier, stated Nexage’s recent funding would help to fulfil the company’s “desire to expand [their] footprint into Asia”. Nexage previously received $4m in Series A funding from Grandbanks Capital and Blackberry Partners Fund on 7th October 2009. Blackberry Partners Fund is owned by JLA Ventures, which also runs Relay Ventures who were included in the companies who backed Nexage. On 5th August 2008, an undisclosed Angel investor funded Nexage $500,000 in Angel funding. The recent investments have brought the total raised by Nexage to $19.5m.
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Nexage rings up $5m from Hearst
Aug 10, 2012 • Alice Marriott
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