Millennial Media Acquires $27.5 In Latest Round

Millennial Media, the No. 3 mobile advertising network, has raised $27.5 million in its latest round of funding.

The company, based in Baltimore, teamed up with Bessemer Venture Partners, Columbia Capital and Charles River Ventures for it’s latest round. With the addition of the almost $30 million, Millennial Media’s total funding to date is $65 million.

Currently, Milennial stands behind Google and Apple on the competitor board for mobile ad networks. CEO Paul Palmieri says that Millennial Media will develop its latest acquisition, TapMetrics.

There is some speculation that Microsoft is looking to acquire Millennial.