ADOTAS – Announcing that its ad platform is higher priority than its widget and app-making business, Widgetbox has rechristened itself Flite. And what better way to celebrate a name change than a round of funding? Specifically a $12 Million Series C round of financing led by General Catalyst Partners, with participation from existing investors Sequoia Capital, Hummer Winblad and NCD Investors.
“Over the past several years, Widgetbox has been a pioneer in helping make the Web a more interactive, entertaining and fun experience, while helping businesses better monetize their Web properties,” said Flite CEO Will Price. “Our platform has evolved to become a powerful way for top brands to deliver a new category of Web ads — a new standard for how display ads are created, monetized and shared.”
The name change comes after a year-long process to refocus the company on its ad platform. Having run campaigns by over 120 brands, Flite claims a reach of more than 120 million monthly uniques, while its metrics system captures 55 million unique daily events.