• by Joe Mandese  @mp_joemandese, July 30, 2008

Clickable, an online ad management company aimed at the so-called mid-market of the online search marketplace, this morning said it completed a new round of investment funding raising $14.5 million financing. The round, led by Founders Fund, with additional backing from existing investors Union Square Ventures and FirstMark Capital, brings Clickable's total venture funding to $22.5 million over the past 12 months, and will be used to accelerate its expansion of online marketing services for small and midsize marketers.

Founded in 2006 by serial entrepreneurs Munish Gandhi and David Kidder, Clickable initially was backed by some of the Internet's most successful venture-capital firms and private investors, including Pequot Ventures and Union Square Ventures, Peter Thiel, Managing Partner of The Founders Fund and Co-founder of PayPal, and Jonathan F. Miller, former America Online Chairman and Chief Executive.

"Clickable's tools allow users to track and manage campaign performance across multiple ad networks with a comprehensive, easy-to-use dashboard," said Justin Fishner-Wolfson, a Principal at Founders Fund, who joins Clickable's board of directors. "Clickable's intuitive technology makes it easy for advertisers and agencies to realize the true potential of search ads."