4Info, based out of San Mateo, CA, announced today it's raised $20 million in equity and debt funding led by Peacock Equity.  4Info has raised a total of $40 million to date including investments from Gannett, US Venture Partners, Draper Fisher Jurvetson, Sand Hill Capital and Selby Ventures.

4Info provides text message live search.  For example, you would like to know the current score of the game you are missing while you are on the bus, text your favorite teams name to 44636, 4Info's service number, and it'll text you back with the current score.

4Info's main business plan lies in SMS Advertising.  Its SMS advertising is appealing to companies due to its highly targeted nature.  Now, Nike and Reebok can send ads out to the folks missing their advertisments during television sports broadcasts.

According to eMarketer, mobile-message advertising is expected to reach $2.4 billion in 2009, up 62% from last year.