The Rubicon Project and Collective Media Both Secure Funding
It has been announced that online ad optimization firm, The Rubicon Project has raised another $13 million in venture capital. The amount is made up of an additional $5 million in venture funding from Clearstone Venture Partners, Mayfield Fund and IDG Ventures Asia and Silicon Valley Bank added $8 million in venture debt. The company notes that the funds will be used to, “fuel business growth initiatives including strategic acquisitions, research and development, infrastructure and international expansion.”
The company has raised $33 million to-date and is based in Los Angeles. The company opened a NYC office last November. Check out our interview with founder and CEO Frank Addante.
While at the same time Techcrunch has reported that Collective Media has secured another $20 million in Series B funding. The series was led by Accel Partners and iNovia Capital. Collective Media offers publishers an ad network management platform to create their own branded, vertical ad networks. The company raised an undisclosed amount in Series A funding, led by Greycroft Partners and iNovia Capital, in October 2007.
This has made me think a lot about both companies and how IDG Ventures Asia was an investor in The Rubicon Project and the IDG Tech Network is currently using the Collective Media platform to run their advertising network. I find it funny at times how certain section of major still don’t have an overall growth strategy, because investing in one company but at the same time they are wasting money on using another ad platform when it might be in their best interests to think about building their own ad platform and then integrating The Rubicon Project.
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