Rubicon Project Raises $21M

Santa Monica-based the Rubicon Project, which develops online advertising optimization systems, is announcing today that it has raised $21M in a Series B funding. The funding came from Mayfield Fund, IDG Ventures Asia, Stanford University, University of California Berkeley, and Clearstone Venture Partners, along with founder Matt Coffin. According to Rubicon Project, the funding will be used to fund the firm's international expansion, for strategic acquisition, research and development, and infrastrucutre. Rubicon recently launched a beta of its services, which helps online publishers optimize the CPM and yield from their online advertising inventory across multiple advertising networks. Rubicon Project was founded by Frank Addante, a co-founder of L90. More information »