• by Gavin O'Malley  @mp_gavin, April 13, 2009

Ad network and technology provider Collective Media on Monday announced that it has closed $20 million in financing with Accel Partners, in conjunction with iNovia Capital.

The company plans to use the funds to accelerate technology development, expand internationally and explore acquisitions.

Across the board, the company is "exploring a host of new options for expanding the business both domestically and abroad," according to Joe Apprendi, CEO of Collective Media.

In a super-saturated market for ad networks, what attracted Accel to Collective? "In particular, the AMP targeting and display advertising management platform," according to Sameer Gandhi, a partner at Accel. "That set them apart in the ad network space."

Founded in 2005, the New York-based company operates AMP, its proprietary ad network management platform; the Collective Network, a premium display advertising network; Personifi, its semantic content classification and audience targeting solution; and its own performance-based ad network, the Directive Network.

The company also has offices in Boston, Chicago, Dallas, Detroit, Los Angeles and San Francisco.

In 2008, Collective claims to have experienced a revenue increase of over 200%, along with an EBITDA increase of 333% year-over-year.

Part of its success can be attributed to its willingness to partner with potential rivals in the broader ad technology sector.

Earlier this year, for example, Collective formed a strategic partnership with Rich media company EyeWonder to integrate EyeWonder's in-stream technology with Collective Media's display ad network.

The combined service offers media buying, delivery and reporting for online video advertising campaigns.