ContextWeb gets $9 million in a second round of funding
Online advertising company ConextWeb has received $9 million in a new round of funding. The funding brings ConextWeb’s total equity funding to $12 million. ContextWeb provides Internet-based, contextual advertising services to retailers, publishers and other marketers. The second round of funding was led by Updata Partners. Conor Mullett, general partner of Updata Partners, joins ContextWeb’s board.
ContextWeb says it will use the new funding to accelerate the growth of its real-time contextual advertising service, called ContextAd, which it rolled out in September. ContextAd uses both content and keywords for analysis and matching to deliver ads to online consumers.
”This second round of funding will take a working and highly profitable business model and scale it to position ContextWeb as a leader in the contextual advertising market. The interest and dedication of a respected firm such as Updata Partners validates our growing leadership position,” said Anand Subramanian, CEO of ContextWeb.
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