• by Ben Frederick  @mp_benfred, December 23, 2015

Looks like mobile display advertising isn’t quite dead yet. Kargo, a mobile brand advertising company, announced that it had raked in a 100% year-over-year increase in annual revenue -- $100 million -- in 2015. That number is a 5,500% increase over the last five years, all of which have been profitable for the company.

Much of the success of the company can be attributed to two factors: its large network of high-end publishers (including CBS Interactive, DailyMail, Scripps, Vice, and Bauer Xcel Media), and partnerships with big brands (including Target, Unilever, Procter and Gamble, T-Mobile, and Verizon). Kargo also runs an in-house creative studio.

"Achieving $100 million in annual revenue demonstrates that brands are quickly adopting mobile brand advertising and targeting their customers in the best editorial places,” stated Kargo CEO Harry Kargman.

2015 marked the year that mobile surpassed desktop in terms of time spent on the devices and ad spend. Brand advertising has begun a major strategic pivot onto the small screen, and with it has come rapidly increasing ad spend. BMO Capital Markets projects mobile brand display and video advertising to reach $17 billion in 2015 and grow to $42 billion by 2019, a 26% CAGR.

Even with the specter of mobile ad blockers looming, Kargo doesn’t appear to be significantly affected.

Founded in 2003, Kargo is one of the fastest self-funded ad tech companies, having been funded thus far solely by profits.