Openads Raises $15.5M In Series B Funding
Openads, a developer of a free, open-source ad server being used by over 30,000 publishers globally announced that it has completed its Series B financing. The $15.5 million investment was led by Accel Partners with participation from Index Ventures, Mangrove Capital Partners, First Round Capital and O’Reilly AlphaTech Ventures.
The company will use the funds for development of products and expansion of its staff to support its publisher clientele. The firm delivers billions of ads daily in over 100 countries worldwide.
“We are excited to be working with Accel Partners. They have a great investment track record and share our belief in the power of open source software and a passionate publisher community to create real change in the online advertising industry,” stated James Bilefield, CEO of Openads. “We’re also delighted to announce today the private beta release of the hosted version of our software, delivering on the strong demand for this service from publishers large and small.”
Andrew Braccia of Accel Partners said “The rapid growth of the global online advertising market requires the adoption of next generation infrastructure and services for publishers and advertisers alike. Openads’ open source heritage and deep global publisher footprint make it uniquely positioned to play a pivotal role in the evolution of the digital media landscape.”
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