PubMatic Raises $45 Million
Sell-side ad platform PubMatic on Wednesday announced raising $45 million in a venture round led by August Capital and including prior investors Draper Fisher Jurvetson, Nexus Venture Partners, Helion Ventures and Silicon Valley Bank.
That brings PubMatic’s total raised to date to $63 million.
The company, whose platform lets large publishers manage their online inventory and optimize ad revenue, said the new financing will be used to continue its targeted acquisition strategy and strengthen its balance sheet. In March, PubMatic acquired mobile technology development MobiPrimo to expand its mobile ad offerings for publishers. Previously, it bought small ad optimization provider ReviNet.
The company’s competitors include AdMeld, acquired by Google last year, as well as independent sell-side platforms Rubicon Project and AppNexus. Even so, PubMatic said it had 150% revenue growth last year. As part of its latest funding, August Capital partner Eric Carlborg will join the PubMatic board.