Blog Post

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** 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.

2 Responses to “Updated: Ad Network Adbrite Gets Big $23 Million Third Round”