Seattle, WA - Medio, the leading provider of mobile search and advertising solutions, announced today that it has received $30M in Series B funding from Accel Partners in Silicon Valley and London, and returning investors Mohr Davidow Ventures, Frazier Technology Ventures, and Trilogy Equity Partners. Medio will use the funding to advance its lead in the mobile search space, develop new products, enhance its core advertising platform, expand sales and operations for both wireless operators and advertisers and grow its presence in the European and Asia-Pacific geographies.
“We have created the most relevant, most efficient mobile search solution and having been selected by some of the world’s leading carriers is validation of this,” said Brian Lent, President and CEO, Medio. “The investment from Accel Partners and our existing investors — MDV, Frazier Technology Ventures, and Trilogy — will allow us to accelerate the overall market adoption of Medio’s search and advertising offerings.”
Medio partners with mobile operators, handset OEMs and MVNOs worldwide, providing search, mobile advertising and merchandising systems designed to give the mobile operator control over its content and advertising ecosystems. Medio’s solution optimizes on-deck, off-deck, and web results to maximize data average revenue per user, while ensuring a quality user experience that drives subscriber loyalty.Medio has experienced extraordinary traction for its mobile search solution in the recent months. Operators that have adopted Medio’s solution to provide best-in-class mobile search for their subscribers include Verizon Wireless and Telus Mobility.
“Accel Partners has known Brian and the team for a number of years and has been impressed with their unique expertise around analytics and user experience design,” said Kevin Efrusy, a General Partner at Accel Partners in Silicon Valley. “Medio’s competitive advantage is clear, as is the uplift they generate for their operator partners.”
“We’re very excited about Medio taking its U.S.-proven business model to European mobile operators,” said Kaj-Erik Relander, Accel London General Partner. “Accel Partners gives Medio full theater-wide backing and believes in the company’s capability in capturing the European market.”
Medio’s mobile search solutions combine the latest in personalization, recommendation and advertising technologies with advanced data mining and analytic techniques to deliver highly relevant and personalized content and information to each mobile subscriber. This information is optimized for mobile handsets; searches result in relevant answers, not pages and pages of links.Medio’s solutions make all content accessible through one search box.
About Accel Partners
Since 1982, Accel Partners has been collaborating with entrepreneurs to turn early stage ideas into category-defining companies. With nearly $4 billion under management, Accel Partners operates globally through offices and affiliates in Palo Alto, London, and China.Accel investments have included Vertitas Software, Facebook, RealNetworks, Macromedia, and UUNet.