• March 3, 2010

Mobile marketing software maker Adenyo Wednesday announced raising $26.9 million in financing from investors led by Genuity Capital Markets. Toronto- and Dallas-based Adenyo said it would use the new funding to accelerate international expansion.

Adenyo's Web-based platform is used by brands, agencies and carriers to power four types of mobile operations -- marketing and ad-serving, mobile storefronts, coupons and payments and analytics. The company boasts 200 blue-chip clients in North America and Europe including Samsung, L'Oreal, Air Canada and Chevrolet.

The $26.9 million funding includes a $17.2 million institutional round led by Genuity as well as $9.7 million in private placements raised since July 2009. In connection with the latest investment round, Adenyo has appointed Dennis Kavelman, who served as Research in Motion's CFO from 1995 to 2007 and then COO until 2009, to its board of directors. --Mark Walsh