"As calls come in from our various partners, we're determining properties of the user, what the value is of this opportunity and if we think there are any potential matches we can make in our system to generate high user engagement and high ROI," says cofounder Jennifer Lum.
Adelphic supports nearly 20 billion inventory transactions per month as of November, indicating some large and important inventory publishers, but the company has not yet identified them.
On the advertiser side, Adelphic says it aggregates mobile inventory and adds reach while focusing on audience segments that are relevant to brand marketers. "Coke isn't thinking about user segments of iPhone 5 or AT&T," she said.
Rich Miner of Google Ventures, who is a cofounder of Android, joins Adelphic's board. The investment also had participation from previous investor Matrix Partners, which led a $2 million round in May 2011.
In addition to go-to-market, Adelphic will spend some of the $10 million on product development and building out its staff, which now numbers 22 plus a small offshore team.
"It's really about putting our products in the hands of many customers," Lum said of the round.