Summary:

Even as online advertising market is showing some signs of weakness, online ad firms are continuing to get funding: ContextWeb, the NYC-base…

Even as online advertising market is showing some signs of weakness, online ad firms are continuing to get funding: ContextWeb, the NYC-based contextual advertising company, has closed over $26 million of a $30 million fourth round, according to SEC filings, picked up by PEHub. Investors in this round include Investor Growth Capital, and return backers Draper Fisher Jurvetson, DFJ Gotham Ventures and Updata Ventures. Savvian Advisors served as placement agent…Savvian has been doing a bunch of these larger venture fundings…it was the agent for Federated Media’s banker on its $50 million funding, and also reported to be repping SocialMedia for its supposed $20 million raise.

ContextWeb has raised over $53 million in four rounds, since being founded in 2004. Besides ts contextual ad service, in 2005 it launched Adsdaq, among the first online ad exchanges.

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