Mobile ad network Verve Wireless has closed $7 million in a financing round led by BlueRun Ventures and including prior investor the Associated Press. The new funding brings its total raised to
date to $9.5 million. Verve, whose mobile ad network counts 750 newspapers and other local media publishers, plans to use the capital to expand its advertising and technology operations, adding a half
dozen positions in the coming weeks and months.
Besides the AP, other large publishers working with San Diego-based Verve include McClatchy and Belo Interactive. The company says it served 150
million mobile news pages in July, more than double the amount a year ago, and has flighted more than 1 billion ads over its network. Read more here.