June 24, 2009
Based in New York, AdMeld, which is a leading company that optimizes ad networks for premium publishers, has closed $8 million in series B funding led by Spark Capital. Other vc firms that participated in this funding include the Foundry Group.
AdMeld is an ad network optimizer that optimizes ad networks for over 65 premium online publishers and AdMeldâ€™s technology helps these companies to save money and increase ad revenues. AdMeldâ€™s technology works by optimizing ad networks and is designed to generate the best and highest yields for publishers and also provides publishers a whole suite of tools that can give them the transparency and control of the ads. AdMeld was founded in 2007 by Benjamin Barokas, who is also the companyâ€™s CRO and Brian Adams, who also works at AdMeld as the companyâ€™s CTO. AdMeldâ€™s management team also includes Michael Barrett, who is the companyâ€™s CEO and has deep experience with premium advertising publishers.
According to Michael Barrett, AdMeld has had an amazing response. AdMeldâ€™s technology is a real solution for real problems that ad companies are experiencing and as more ad companies have used this technology, the demand has been growing at a rapid pace, since ad networks have proliferated at a rather fast rate.
Furthermore, Mr. Barrett has stated that the proceeds of this funding will go to continue to solidify the companyâ€™s market leadership and to continue to evolve its ad network optimization solutions. AdMeld also announced that it is building a presence in the United Kingdom by opening new offices and data centers in London.
According to Seth Levine, Managing Director of the Foundry Group, AdMeldâ€™s rapid growth is a testiment to its early market success and makes it very attractive to investors. Furthermore, AdMeld has a vision built on a technological solution for real problems that ad publishers have and with these solutions have been able to reduce their costs and increase their revenues. This is one of the reasons that the Foundry Group has decided to participate in this round of funding. The Foundry Group believes that AdMeld will use this investment to plow further ahead and maintain its market leadership.
Spark Capital is a vc firm that is focused on market disruption and supports entrepreneurs who have the driving will to succeed in their market. Spark Capital is based in Boston, Massachusetts and mainly invests in companies in the tech industry. Some companies in Sparkâ€™s portfolio include Boxee, Buzz Wire, Covestor, Inform, Intune, Manara, SendMe, and others.
The Foundry Group is a vc firm that mainly invests in early stage companies in the IT industry. The Foundry Group also invests in the internet and software industries. The Foundry Group is based in Boston, Massachusetts and has the philosophy of turning great entrepreneurs with great ideas into great companies. Other companies in the Foundry Groupâ€™s portfolio include Pogoplug, Emsence, FirstDocs, Gist, Gnip, Medialets, and others.
For more information on AdMeld, click here.