New York: AdMeld , the technology platform that helps the world’s top publishers maximize their ad revenues, has announced it closed a $15 million Series C round of funding led by Norwest Venture Partners (NVP). Time Warner Investments and the company’s existing backers, Spark Capital and Foundry Group, also participated. The round brings AdMeld’s total financing to date to $30 million. Jeff Crowe, General Partner at NVP, will be joining the company’s Board of Directors.
“The addition of Norwest Venture Partners and Time Warner Investments to our already strong list of backers is testament to the strength of our model, our rock-solid value proposition, and the experience of our team,” said Michael Barrett, CEO, AdMeld. “This round of financing caps a period of extremely strong growth for the company. Over the past year, AdMeld has become the world’s largest, independent sell-side platform for Real Time Bidding (RTB), extended our optimization capabilities into the mobile space, and quadrupled the size of our customer base.”
Hundreds of the world’s top online publishers use AdMeld’s technology, including Answers.com, Discovery Communications, FOX News, IAC, Pandora, Thomson Reuters, and World Wrestling Entertainment®. In aggregate, the company optimizes ads across more than 395 million unique users globally.
“AdMeld has proven itself to be the leading sell-side platform,” said Jeff Crowe, General Partner, Norwest Venture Partners. “AdMeld’s client list is unmatched, its technology delivers substantial benefits for both publishers and buyers, and the company continues to pursue innovative technologies that change the way digital ads are bought and sold at scale. I look forward to working with Michael and the AdMeld team to shape this quickly-evolving market.”
“AdMeld has outstanding potential to redefine the online advertising marketplace and we are excited to become investors in this innovative and fast-growing company,” said Rachel Lam, Senior Vice President, Time Warner Investments and Group Managing Director. “We seek to back companies, such as AdMeld, that can become important strategic partners for our operating divisions — AdMeld commands the technology, team and vision to help Time Warner’s online publishing groups maximize their value in the swiftly-changing online ad market.”
AdMeld’s dynamic yield optimization technology is the most advanced in the industry. It processes more than 40 billion ad transactions per month, maximizing the value of each impression while giving publishers unprecedented control over how it is sold, to whom and for how much. In addition, the platform leverages RTB to connect publishers with every major buyer (including Demand Side Platforms, ad networks and exchanges), new budgets, and higher CPMs. Lastly, the company offers an array of tools to give publishers deep insights into the value of their audiences and inventory, take advantage of new revenue opportunities, and protect their brands.