Got Funds? Marin and Lucid Fatten Their Wallets
ADOTAS – It’s hot as hell and summer hasn’t even officially kicked off yet, but fortunately Marin Software and LucidMedia will have plenty of investor dollars to fan themselves with for the sweltering months ahead.
Paid search software-maker Marin closed a Series D round of financing with $11.2 million dollars. Existing venture capital investors Amicus Capital, Benchmark Capital, DAG Ventures and Focus Ventures donated to the cause along with newcomer Triangle Peak Partners.
The funding will go towards further development of Marin’s Search Marketer software. The company’s software boast more than 180 customers and handled upwards of $1 billion in search spend. Marin recently introduced integration with Facebook Ads, which enables their software users to edit their bids and creative on the social network individually or in bulk.
Also receiving impressive sums of money would be Lucid Media, which raised $4.5 million in a funding round led by MMV Financial. It’s been a big year for Lucid as it successfully launched its demand-side platform in February and recently expanded that offering with a self-serve feature.
The company reported that funding would be directed at further expanding the self-serve DSP. The investor cash adds to Lucid’s December 2008 round of funding from institutional and individual investors such as Lake Street Capital and Redleaf Group
“With its unique demand-side platform, a strong base of patented technologies and a savvy and experienced management team, LucidMedia is exceptionally well-positioned for continued growth in the online advertising sector,” said April Young, MMV senior vice president and U.S. managing director.
LucidMedia’s executive team was too busy blushing to reply to Young’s comment. They’re a bashful bunch.
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