Monday, April 13, 2009
Rubicon Projects Raises $13M More
Los Angeles-based Rubicon Project, which operates an online advertising optimization service, is announcing this morning that the firm has raised $13M more in a combination of equity and debt. The investment included $5M in equity funding from Clearstone Venture Partners, Mayfield Fund, and IDG Ventures Asia, and also included $8M in debt from Silicon Valley Bank. Rubicon said that the Series B follow-on funding will go twards strategic acquisitions, research and development, international expansion, and infrastructure. According to Rubicon, the follow on funding round brings its total raised to $33M. Rubicon Project operates a service which helps online publishers optimize which advertising networks to use on their web sites, to improve their CPMs.