Rubicon Project Lands $13 Million In Funding

moneyThe Rubicon Project has raised an additional $13 million in venture funding, the ad technology firm is expected to announce today.

This latest round -- which brings the company's total funding to $33 million -- includes an additional $5 million from Clearstone Venture Partners, Mayfield Fund and IDG Ventures Asia, and with $8 million in venture debt provided by Silicon Valley Bank.

Amid mounting industry competition, the additional capital is expected to fuel the company's growth initiatives including strategic acquisitions, research and development, infrastructure and international expansion, according to Frank Addante, founder and CEO of the Rubicon Project.

"Up next is expanding our technology to answer customer demand around the optimization of non-guaranteed ad inventory," Addante said.

A growing number of startups are competing to help Web publishers better manage the sea of ad networks they can now choose from to sell leftover ad impressions.

For a share of earned ad revenue, companies like the Rubicon Project, Pubmatic, and AdMeld factor in pricing data, available inventory, and publisher guidelines to determine which ad network is sent an ad impression -- work that a publisher's sales force would otherwise be required to perform.

"The Rubicon Project aims to automate the buying and selling of all online ad inventory," Addante added.

Based in Los Angeles, the Rubicon Project launched in 2007. In the first quarter of 2009, the company is reporting 150% revenue growth over the fourth quarter of 2008.

The company's publisher clients include Gannett, Salon, Washington Post/Newsweek Interactive and American Greetings.

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