Ad firm ContextWeb snags $26 million in funding
Advertising exchange owner ContextWeb closes funding round of $26 million.
Elinor Mills Former Staff Writer
Elinor Mills covers Internet security and privacy. She joined CNET News in 2005 after working as a foreign correspondent for Reuters in Portugal and writing for The Industry Standard, the IDG News Service and the Associated Press.
If there was any doubt that online advertising was cooling down, this news might make you think twice.
ContextWeb, a contextual advertising firm and operator of the ADSDAQ Exchange, has closed a $26 million Series D funding round, the company said Tuesday.
The round was led by Investor Growth Capital, with participation from all existing investors: DFJ, DFJ Gotham Ventures, Updata Partners, DFJ New England, and Gold Hill Capital.
This brings ContextWeb's total equity investment to $54 million.
The funding will be used to grow the ADSDAQ Exchange, which offers a way for advertisers and publishers to buy and sell ad inventory, the company said.
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