Associated Content and FreeWheel raise funds
ADOTAS — Money is still flowing to startups.
Associated Content, an online publishing platform, has closed a $6 million, Series C financing round. The round was funded with full participation from the B round investors: SoftBank Capital, Canaan Partners and AOL head Tim Armstrong. Associated Content secured $10 million in Series B Financing from SoftBank, Canaan, and Armstrong in 2007. The company also closed $5.4 million in Series A funding from SoftBank in 2006.
With an archive of more than one million pieces of unique content, Associated Content is expanding its network of 250,000 professional and amateur site contributors and has developed a proprietary platform that enables personal and automated curation, payment and editing. The company will use the funds for consumer, platform, publisher, and advertiser growth.
FreeWheel, an online video-advertising platform, has raised $12 million in a third round of funding led by Foundation Capital—and existing investor—Battery Ventures. Initial clients included Joost, Next New Networks and the Hachette Filipacchi-owned, car buyer-focused ad network Jumpstart Automotive Media. It was founded by three former DoubleClick executives.
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