NEWS5 March 2010

Mobile marketing and analytics firm Adenyo scoops $27m funding

Financials North America

US— Mobile marketing software firm Adenyo has secured $26.9m in private equity funding which it says it will use to accelerate international growth.

The firm – whose software tools cover analytics, ad serving, mobile storefronts, coupons and payments – secured $17.2m from Genuity Capital Markets and $9.7m in private placements.

Sanjiv Samant, head of the technology investment banking group at Genuity, said: “The mobile marketplace is exploding and Adenyo is well positioned to take interactive mobile marketing and content delivery to the next level.”

Meanwhile, Adenyo has hired former Research In Motion COO Dennis Kavelman as a director.