Madrona Venture Group, Bain Capital and Khosla Ventures all participate in third round of funding
AdReady, a startup offering a platform for online display advertising, announced on Monday it's raised $5.3 million in funding. It said it received full participation from its current Investors which include Madrona Venture Group, Bain Capital and Khosla Ventures. With this third round in place, the company has raised a total of around $17.3 million.
The Seattle-based company aims to help large agencies and companies reach micro-targeted segments, while at the same time, help mid-sized companies set digital advertising campaigns. The platform is a single-point control for managing display advertising. Users can do everything themselves by customizing AdReady's templates, deploying campaigns and then receiving reports for optimization purposes.
AdReady says it gives its users the ability to run ads on top of big name publishers like Yahoo, Google, ESPN, Disney Online, and Spark Networks, just naming a few I noticed on its site.
Some monthly stats AdReady shares: its advertisers receive around 1 billion impressions, generate more than 3 million clicks and run more than 10,000 ads.
Along with the funding announcement, AdReady said it appointed Steve Singh to its board of directors. Singh is the CEO of Concur, an on-demand employee spend management solution. AdReady is hoping his experience will grow the company in a market expected to reach $17 billion by 2014.
I've contacted AdReady to see what they plan to use the funds for and a little bit more information on how they differentiate themselves as an online advertising platform. We'll see if they get back to us so we can update the article with more details.
