Affiliate Ad Net Adsmarket Raises $17 Million

Adsmarket

Affiliate ad network Adsmarket has raised $17 million from PE firm Viola Private Equity, which is taking a 21 percent stake in the company. Adsmarket, which says it has “thousands” of publishers in its network, is growing rapidly; the company says it is on track to reach $80 million in sales this year, up from $60 million a year ago and $36 million in 2008.

The Tel Aviv, Israel-based company operates primarily in Europe, although it recently entered the U.S. market and says it will use some of the new cash to fund its expansion there. Viola Private Equity is using $12 million of the total to buy shares from some of Adsmarket’s existing backers, while the other $5 million is being invested in the company.

Some more details in the release and in this write-up from Israeli business newspaper Globes.

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