AdMob announced today at CTIA Wireless 2007 in Orlando, Florida and the iMedia Breakthrough Summit in Henderson, Nevada that it has closed $15 million in venture capital funding. The company says that it will use the funds to develop new solutions that will make it easier for advertising customers to leverage mobile.

The Series B financing round was led by Accel Partners, with previous investor Sequoia Capital participating as well.

"Mobile advertising is exploding as advertisers of all types learn to leverage the mobile medium," said Rich Wong, partner at Accel Partners, who will join the board. "We're excited to work with AdMob and believe that the AdMob platform and unique international footprint are ideally positioned to serve publishers and advertisers in mobile, and set the direction in this dynamic market."

In January, AdMob announced that it had served 1 billion ads in the trailing six months. Demonstrating the acceleration in the market, AdMob has served more than 600 million ads in the last 60 days bringing the total to over 1.6 billion. Much of this growth has been fueled by growing activity in the United States and Europe.

"We are thrilled to receive such enthusiastic support from Accel Partners," said Omar Hamoui, CEO and founder of AdMob. "We regard it as recognition of AdMob's accomplishments to date and a testament to the growth of the industry and the opportunities to come. This financing will enable AdMob to invest in making mobile advertising easy and accessible to unlock the full potential of this medium."

Advertisers are increasing their use of AdMob's platform to reach customers on their mobile phones using different targeting capabilities. Some statistics on targeting include:

• 95.2 percent of AdMob ads leveraged geographic targeting
• 63.2 percent of AdMob ads leveraged behavioral or demographic targeting
• 20.2 percent of AdMob ads leveraged handset targeting by manufacturer
• 9.1 percent of AdMob ads leveraged targeting based on device capabilities
• 3.7 percent of AdMob ads were run-of-network ads running viewed in over 150 countries worldwide.

Read iMedia's interview with AdMob's CEO Omar Hamoui and Advertising Sales VP Tony Nethercutt about mobile marketing best practices, mistakes to avoid and more.