Rajeev Goel Cofounded PubMatic Closes Series B Financing
Date: Wednesday , April 01, 2009
The Amar Goel and Rajeev Goel cofounded PubMatic, a California based company that works with over 5,500 online publishers to squeeze more revenue on advertising, closed series B financing from various investors including Draper Fisher Jurvetson, Nexus India Capital, and Helion Ventures.
While refusing to disclose the amount raised, Rajeev Goel, CEO, PubMatic said, “It is our largest financing to date.” Earlier, PubMatic had raised $7 million in Series A round. The current funding serves as the catalyst for PubMatic’s global expansion and the unveiling of a new ad solution, PubMatic Premier. The solution is designed for global media publishers doing greater than $5 million in annual online revenue, and introduces several new capabilities to increase revenue, ease ad network management, and enhance brand protection. However, for PubMatic the biggest competition is the companies that use manual process to try and manage these activities on their own.
“Large media companies have the potential to increase their ad network revenue by millions of dollars per year with proper ad network monetization strategy,” says Goel. The company that addresses a $6 billion display advertising market is currently witnessing a strong demand among the online advertising industry, and particularly from large publishers and the 350-400 ad networks around the world. Founded in 2006, PubMatic currently has 55 employees and plans to have a headcount of 70 by the end of the year.