ADOTAS – Right on the heels of bringing its social targeting technology to online video advertising, Media6Degrees announced a $17 million Series B round of funding led by Menlo Ventures. Also participating in the round were U.S. Venture Partners and Venrock.
M6D will use the funding to bolster its staff — currently at 60 employees in offices in New York City, San Francisco, Chicago, Boston, Atlanta and London — and technology, including expanding social targeting into optimization services for both marketers and publishers. CEO Tom Phillips, who filled us in on the latest at M6D last week, said the annual revenue run-rate in the fourth quarter was topping 30 million — not bad for the company’s second full year of operation.
Menlo Managing Director Mark Siegel will take a seat on the M6D board of directors. In addition to being named one of AlwaysOn’s top 100 venture capital firms, last week Menlo also participated in a $15 million Series C round of funding for Flurry, a mobile app analytics, promotion and monetization firm.