Adaptly raises $2.7 Million for social ad buys

By siliconindia   |   Tuesday, 19 April 2011, 21:48 IST   |    1 Comments
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New York: Adaply, social ad buying platform has raised $2.7 million in seed and Series A funding from First Round Capital, Charles River Ventures, Kirschenbaum Bond Senecal & Partners and Lerer Ventures. Adaptly caters to clients like Pepsi's Lipton/Brisk and makes it easier for brands to advertise across social networks like Facebook, Twitter, LinkedIn, StumbleUpon and Plentyoffish, reports TechCrunch. Adaply plays a different role than other companies. It understands the importance of integrating ads into social networking sites like Twitter or LinkedIn is an entirely different process which extends beyond Facebook. Nikhil Sethi, the co- founder of Adaptly has completed his schooling in the U.S. and a graduate from Northwestern University in 2010. He is also the co founder of blurtt LLC. Nikhil Sethi said, "Our bet is that social is not just Facebook, but that it will evolve into other sites like LinkedIn and Tumblr. Facebook is roughly 47 percent of the pie." Recently Adaply has shifted it's headquarter to New York where it currently operate a team of seven people from engineering backgrounds. Sethi said he will use the $2.7 million in recent funding to buiold a most badaas team and also he has an overall goal to put the tech in AdTech by building a strong engineering focused company. The Facebook specific buying agencies like Blink, AdParlour are dominating the ads space.