July 22, 2008 8:47 AM PDT
Ad firm ContextWeb snags $26 million in funding
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.
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. E-mail Elinor.
