RESTON, VA – LucidMedia, a leading online advertising demand-side platform (DSP) with integrated real-time bidding has secured $4.5 million in a new funding led by MMV Financial.
This funding follows a December 2008 $8.8 million investment from a combination of institutional and individual investors including Lake Street Capital and Redleaf Group.
LucidMedia plans to apply the proceeds to continue expanding its recently launched self-service DSP that enables agencies and advertisers to more efficiently manage their online advertising campaigns.
The DSP leverages LucidMedia’s patented contextual targeting technologies to provide more than 14,000 categories along with page-level transparency and multiple layers of filtering to protect branded advertisers from inappropriate content.
“With its unique demand-side platform, a strong base of patented technologies and a savvy and experienced management team, LucidMedia is exceptionally well-positioned for continued growth in the online advertising sector,” said April Young, MMV’s Senior vice president and US managing director.
We’ve been seeing increased venture backing for companies on all sides of the online, mobile and digital advertising industry this year. Numerous reports from the likes of digital measurement firm comScore and others have noted that as traditional advertising venues such as TV and newspapers lose share, Internet and mobile advertisers are gaining.
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