• July 23, 2008

ContextWeb, Inc., a contextual advertising company and operator of the ADSDAQ Exchange, has closed a $26 million Series D round of funding.

"We had tremendous interest in the company and received numerous good financing proposals," says Anand Subramanian, CEO of ContextWeb, Inc. "We chose Investor Growth Capital as our partners to lead the round for their market expertise, track record in creating sector leading companies and ability to help us expand in markets outside North America, especially in Europe."

All of the existing investors in the Company, which includes DFJ, DFJ Gotham Ventures, Updata Partners, DFJ New England, plus Gold Hill Capital also participated. This round of funding, combined with three previous rounds, brings ContextWeb's total equity investment to date to $54 million.--Tanya Irwin