Adaptive Medias Raises $5.2M

Irvine-based Adaptive Medias, the provider of programmatic advertising technology, said this morning that it has raised $5.2M in a private placement. The publicly held company did not say where the new funding came from. Adative Medias said it will use the funding for sales and marketing, as well as general corporate purposes. Adaptive Medias is led by Qayed Shareef. Adaptive Medias is backed by Los Angeles technology veteran and investor Ben Padnos.