ADOTAS — The ad network optimization company announced it closed an $8 million round of Series B funding.
Led by Spark Capital and Foundry Group, the funding, according to AdMeld, will be used to accelerate its sales and product development efforts. AdMeld raised $7M in June of 2008. Over the past six months, AdMeld’s customer base has grown five-fold and it expanded into Europe by opening a London-based office and data center. Currently more than 65 premium online publishers use AdMeld’s technology, including Discovery Communications, FOX News, The Huffington Post, IAC, Thomson Reuters, and World Wrestling Entertainment.
“The response to our solution has been extraordinary,” Michael Barrett, CEO, AdMeld, said in a statement. “Our technology solves a very real problem for publishers and demand for it has only increased as ad networks and exchanges have proliferated. Closing this round of funding means we can focus on solidifying our market leadership among premium publishers, evolving our core product, and completing development on some exciting new products for release in the Fall. We’re also pleased to be building a presence in the UK with the opening of our sales office and data center in London.”
AdMeld’s technology dynamically selects the most lucrative mix of ads across hundreds of ad networks and exchanges. The company says its customers typically see an increase in revenues from remnant inventory between 30% and 300%. In addition, AdMeld provides its customers with centralized network performance reporting, brand protection tools such as FireMeld, and a range of white-glove services.