Posted on January 11, 2011 - by David Etheredge

Mobile Advertising Company Millennial Media raises $27.5M

Investors in the tech sector are continuing to pour money into mobile plays such as Millennial Media as evidenced by the companies recent announcement that they have raised $27.5 million in growth equity funding. Millennial Media is one of the largest independent mobile ad network operators in the U.S.

The linked article  includes an interesting pie chart using data from IDC that indicates as of December 2010, Millennial Media owned 15.4% of the Mobile Ad Network market share while sector giants Google and Apple weighed in at 19% and 18.8% respectively.

The most intriguing bit of data to be gleaned from the chart is the fact that over a third of the market share (36.7%) falls into the “Other” category which suggests that as much of the market is currently controlled by companies with too small a market share to actually call them out by name as is controlled by Google and Apple combined. Like just about everything else in the mobile marketplace, its an extremely wide open field with a huge opportunity for emergent companies to grab their piece of the pie chart.