Apptera, a mobile advertising network, has raised $10.5 million in venture funding from Alloy Ventures, Lightspeed Venture Partners, and Walden International. In addition to this the company would also be having David Karnstedt – former SVP of Yahoo’s North American Sales – on its board. Apptera is the force behind many of the voice ads that you hear when you dial 411 services and has an estimated reach of over 100 million users a year.

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