Updated: Ad Network Adbrite Gets Big $23 Million Third Round


Self-serve ad network AdBrite has raised a large $23 million third round from return backer Sequoia Capital, along with Sequoia-affiliated hedge fund Artis Partners, according to PE Hub. The SF-based company, founded by F**kedCompany.com creator Philip Kaplan, raised rounds of $8 million and $4 million in 2006 and 2004 respectively, for a total haul of $35 million. Om speculates that the round may not be complete, and that a new outside backer could still emerge. Since its original bare-bones offering, the company has built out its platform, offering a variety of ads and services. Filing (.pdf)

Update: There were, in fact, others besides Sequoia and Artis. VentureBeat has confirmed that the round was led by DAG Ventures, with Mitsui Ventures participating as well.



I've placed an ad campaign a week ago – still pending review
I've added their banner ad zone to my site a week ago – 0 impressions

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