Processing .....please wait.. 
The article has been forwarded.... 
Ajay Sravanapudi founded LucidMedia raises $4.5 Million
By siliconindia
Bangalore: LucidMedia, the Virginia-based online advertising demand-side platform (DSP) with integrated real-time bidding (RTB), has raised $4.5 million in funding, which is led by MMV Financial (MMV). This funding follows a December 2008 investment from a combination of institutional and individual investors including Lake Street Capital and Redleaf Group.
According to the company, it plans to apply the proceeds to continue expanding its recently launched self-service DSP that enables agencies and advertisers to more efficiently manage their online advertising campaigns. The DSP leverages LucidMedia's patented contextual targeting technologies to provide more than 14,000 categories along with page-level transparency and multiple layers of filtering to protect branded advertisers from inappropriate content. "We are excited to have the support of the MMV team as we continue to develop unique products that redefine the online advertising industry," said Tom Ervin, Chief Financial Officer of LucidMedia. "Our DSP represents a major opportunity for advertisers to leverage our technology's operational efficiencies. We look forward to expanding these efficiencies and building our platform's profile as an industry leading solution."
Founded in 1999 by Ajay Sravanapud who is also the CEO of the company, LucidMedia categorizes traffic from many of the Web's most respected networks and exchanges, providing advertisers with a way to more effectively target online advertising inventory and increase their return-on-spend through its patent ClickSense. As the business and technology driving force behind the LucidMedia Network and the patented ClickSense platform, Sravanapud has spent the last three years transforming the company from its roots in enterprise knowledge management to a leading player in the online advertising space.
"With its unique demand-side platform, a strong base of patented technologies and a savvy and experienced management team, LucidMedia is exceptionally well-positioned for continued growth in the online advertising sector," said April Young, MMV's Senior Vice President and U.S. Managing Director.
