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The Rubicon Project adds $13 Million in funding
By siliconindia
Los Angeles: the Rubicon Project, an Internet advertising technology company that pioneered Ad Network Optimization, has added $13 million in venture funding bringing total financial investments to $33 million. The round includes an additional $5 million in venture funding from Clearstone Venture Partners, Mayfield Fund and IDG Ventures Asia. Silicon Valley Bank provided $8 million in venture debt. The additional capital will fuel business growth initiatives including strategic acquisitions, research and development, infrastructure and international expansion.
"the Rubicon Project aims to automate the buying and selling of all online ad inventory. First we tackled the fractured ad network landscape by creating the industry's largest and most successful Ad Network Optimization solution to provide publishers with an effective channel management strategy for their unsold ad inventory," said Frank Addante, CEO and Founder. "We have many of the world's largest media brands as customers. Up next is expanding our technology to answer customer demand around the optimization of non-guaranteed ad inventory; we've established the largest source of demand online for premium publishers, and we'll extend that demand opportunity to all of their inventory."
In the first quarter of 2009, the company has reported 150 percent revenue growth over the fourth quarter of 2008. "In today's economy, markets move towards efficiency. Just like we saw when we invested in Overture, companies like them and Google and now the Rubicon Project thrive during economic change," said Sumant Mandal, Managing Director at Clearstone Venture Partners.
