Greystripe is using its relationship with parent company ValueClick to up the ante in the mobile ad network space. Yesterday, Greystripe announced ValueClick Audience Mapping, a proprietary technology bridging ValueClick’s online tracking data with the mobile space.

Kurt Hawks, general manager of Greystripe, said Audience Mapping is one of the company’s largest product releases to date, and it’s certainly the most significant one since ValueClick acquired Greystripe almost a year ago.

The technology uses anonymous user information generated by ValueClick in the online world and adds to what Greystripe gleans in mobile to target the desired demographic.

As for where Greystripe finds itself in the great privacy debate these days, Hawks said the company cares very deeply about consumer privacy and choice. Greystripe is a partner in the TRUSTe program that was announced earlier this week to bring a more consistent privacy management approach to the mobile environment. The TRUSTed Mobile Ads solution is designed to address the evolving privacy compliance standards and growing consumer privacy concerns.

“We want to be leading the charge in this area,” Hawks said, adding that Greystripe does not collect personally identifiable information and regularly consults with a chief privacy officer.

Greystripe last year announced its expansion into Europe. That’s continuing, and it continues to make new hires here in the U.S., as well.