Wednesday, June 24, 2009

AdMeld Raises $8 Million in Series B Funding

AdMeld, the leader in ad network optimization for premium publishers, today announced it closed an $8 million round of Series B funding led by Spark Capital and Foundry Group. The funding, which AdMeld will use to accelerate its sales and product development efforts, caps a period of strong momentum for the company. 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 to increase ad revenues and reduce operating costs, including Discovery Communications, FOX News, The Huffington Post, IAC, Thomson Reuters, and World Wrestling Entertainment ®.

"The response to our solution has been extraordinary," said Michael Barrett, CEO, AdMeld. "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."

"We're delighted with AdMeld's early success serving some of the world's top web publishers," said Seth Levine, Managing Director, Foundry Group. "Their vision is built on a strong technical foundation and a deep understanding of the challenges large publishers face in maximizing the value of their ad inventories. This investment will enable them to push forward on their current growth trajectory while continuing to deliver innovative solutions that deliver substantive results."

AdMeld's technology maximizes publishers' revenues by dynamically selecting the most lucrative mix of ads across hundreds of ad networks and exchanges. AdMeld 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, unique brand protection tools such as FireMeld, and a range of white-glove services.

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