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Indian founded PubMatic raises $7.5 Million
By siliconindia
Palo Alto: PubMatic, provider of an ad monetization and management platform for online publishers, has raised $7.5 million in series C funding round. This venture capital financing is led by the existing investor Helion Venture Partners, along with the participation of the existing partners Draper Fisher Jurvetson and Nexus Venture Partners. In all, the Sell Side Platform for premium publishers has raised $18 million.
According to the company, the new funding will be used to accelerate the adoption of PubMatic's recently announced set of new offerings, including - an ad auction with real-time bidding; global demand representation; audience analytics and monetization; enhanced brand control and data safety; guaranteed inventory yield management; and enterprise ad operations support.
Founded in 2006 by Amar Goel, Rajeev Goel, Mukul Kumar and Anand Das, the Palo Alto- based PubMatic claims that it for the first time ever - sales and ad operations teams can manage all ad revenue from a single dashboard and gain new insights into inventory and pricing across non-guaranteed and guaranteed inventory channels. This will allow publishers to find new ways of selling existing inventory and improve the value of the inventory sold by their direct sales force.
"We pride ourselves on our innovation and scale at PubMatic. No other company has come to market with so many tools to make certain premium publishers earn the most revenue while ensuring control over their brand, which has allowed us to grow revenue over 700 percent since a year ago," says Rajeev Goel, Co-founder and CEO of PubMatic. "This new injection of capital will accelerate the pace of adoption and development of revenue maximizing and brand control tools for publishers."
The privately held PubMatic, backed by funding from Helion Ventures, Draper Fisher Jurvetson, and Nexus Venture Partners, has seven offices around the world in the U.S., Europe, and Asia. Some of the world's online publishers who have chosen to work with PubMatic include - IAC, The Huffington Post, eBay, United Online, TV Guide, and the majority of the comScore Top 10.
"PubMatic has consistently surpassed its growth objectives and has a fast growing roster of ComScore top 250 publishers," says Ashish Gupta, Managing Director of Helion Advisors. "With portals, ad networks and Demand Side Platforms evolving to maximize advertiser ROI, we are very excited about PubMatic's singular focus on building the most advanced Sell Side Platform for publishers in the market."
