Paul Allen’s Vulcan Capital is the lead investor in a $14 million venture round of funding for mobile advertising company 4INFO.

San Mateo, Calif.-based 4INFO is spinning out a separate division called AdHaven, which will focus solely on mobile advertising, technology and sales.

The round was led by Vulcan Capital, of Seattle, and included Mitsui Global Investment and existing investors Draper Fisher Jurvetson, Gannett, Mezzanine Capital and U.S. Venture Partners.

Companies focused on mobile advertising are hot right now. The audience of smartphone and tablet users is growing rapidly and brand marketers are eager to reach those users.

Kirkland-based mobile marketing and advertising company Hipcricket was recently gobbled up by New York-based mobile marketing company Augme Technologies in a cash and stock deal valued at up to $72 million.

“AdHaven’s scalable audience and behavioral targeting is a breakthrough for the mobile advertising industry,” Stuart Nagae, a partner at Vulcan Capital who will be joining 4INFO’s board of directors, said in a statement. “We believe that advanced targeting is the future of the mobile advertising industry, and that AdHaven will pave the way.”

Allen’s Vulcan Capital also took part in Seattle real estate site Redfin’s $14.8 million venture round announced Thursday.