Adaptly secures $10.5 Million in Series B Funding
Date: Friday , June 01, 2012
The New York based Adaptly that manages ad campaigns across multiple social networks succeeded in gathering $10.5 million in series B round of funding led by Valhalla Partners, with participation from Time Warner Investments and Vivi Nevo along with the previous investors including First Round Capital, Charles River Ventures, Lerer Ventures, and others. The company plans to use the fund for further global expansion, product development, and expansion of its sales team.
The company has also launched its Evergreen social advertising optimization product that helps determine which pieces of brandís social media content are performing the best, then converts them to paid media opportunity placement.
"This represents a fundamental shift in value for social marketing. Paid is only as good as the content behind it, and content is only as good as how many people it reaches. Adaptly aims to solve these marketing problems with Evergreen by giving brands the power to maximize the reach of their highest quality content," says Nikhil Sethi, CEO & Co-founder, Adaptly.
Founded in 2010 by Nikhil Sethi and Garrett Ullom, Adaptly was incubated through DreamIt Ventures and is now based in New York City. Its portfolio clients include brands and agencies such as PepsiCo, Diageo, Showtime, Big Fuel, Kraft Foods and hundreds more.
"Adaptly is fundamentally changing the traditional advertising model. We have had the fortune of investing in several disruptive advertising technology companies, and are very pleased to become a part of the next age of advertising with Adaptly. Evergreen is the latest example of how this talented team continues to innovate with a singular focus on serving a brand's need to reach and engage with its audience across a wide variety of social platforms," says Kiran Hebbar, General partner, Valhalla Partners.