• by Mark Walsh , August 6, 2012

Mobile ad exchange Nexage has closed another $5 million in funding from Hearst Interactive Media, bringing its total second-round venture financing to $15 million. Prior investors in the round included SingTel Innov8, Relay Ventures and GrandBanks Capital.

“Nexage has been able to take and maintain industry leadership, especially in mobile RTB,” said Darcy Frisch, VP, Hearst Interactive Media, in a statement. “We are thrilled about this opportunity to invest in Nexage, helping it shape and expand a market that has become increasingly vital for publishers and advertisers alike.” In connection with the investment, Frisch will join the Nexage board.

Nexage works with about 300 publishers and 150 entities on the buy side including DSPs, agencies, ad networks and advertisers. When it announced raising $10 million in June, the company said it planned to use the new capital to build out its products and technology, add sales staff and potentially expand its ecosystem of buyers and sellers.