Mobile advertising company AdMob and e-commerce company Like.com each snag third-round funding, despite serving sectors that face a mounting challenge in this economy.
AdMob and reportedly Like.com have managed to go against the grain, landing additional venture funding rounds in sectors that are now under great pressure.
AdMob, which supplies banner advertising to mobile devices, received $15.7 million in a third round of funding led by Sequoia Capital and participation from existing investor Accel Partners, the company said Wednesday.
For AdMob, its funding round is particularly interesting, given it serves the advertising industry, which is currently facing challenging times in the tumultuous economic climate. In addition, its lead investor was Sequoia, which recently issued a dire warning to its portfolio companies to prepare for the worst.
Meanwhile, e-commerce site Like.com managed to raise a substantial $32 million in third-round funding in August, according to a report in TechCrunch. Menlo Ventures reportedly led the round, with new investor Crosslink Capital and all previous investors.