Prism Venture Partners, I-Hatch Ventures and Kantar invested a total $7m (£4m) in the company, which tracks the consumption of music, video, ringtones, games and other applications on mobile phones.
M:Metrics, which launched in March this year, monitors the US mobile maket and offers a monthly syndicated data service.
With the additional investment the agency plans to expand internationally as well as adding new service offerings.
Jeff Krantz, executive vice president for corporate development and strategy at Kantar, said: "The mobile phone is fast becoming a mass channel for media."
Krantz said that M:Metrics data was "critical for the mobile medium" in order for the technology to be fully embraced by advertisers.
M:Metrics was founded by president and chief executive Will Hodgman, former owner of internet research agency AdRelevance, which is now part of Nielsen/Net Ratings, and Seamus McAteer, chief product architect and senior analyst.
M:Metrics has signed 38 clients to its roster, including Real Networks, MForma, Warner Music Group, MTV, Yahoo! and Glu Mobile.
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