The recession and AdMob haven’t been formally introduced it seems. The mobile ad firm just closed $15.7 million in a third round of funding and says it has become cash-flow positive. The funding was led by Sequoia Capital’s Growth Fund with Accel Partners also participating. Sequoia also led first $4 million round of funding and Accel led in the company’s second round of $15 million. AdMob has now raised a total of $34.7 million in three rounds in about two years. The new pool of money is being used to recruit sales and other staff in markets that have grown faster than expected like India and South Africa. A spokesman said the company is effectively doubling down and gearing up to prepare for competition from the likes of AOL and Microsoft. It’s a strategy that runs contrary to what Sequoia told portfolio companies at a doom-and-gloom presentation last week where it urged companies to cut spending. More on MocoNews, here.

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