Announces private beta of free, hosted version of popular Openads ad
serving software
LONDON, Jan. 16 /PRNewswire/ -- Openads, the developer of the free,
open source ad server now used by more than 30,000 publishers worldwide,
today announced the completion of its Series B financing. The $15.5 million
investment was led by Accel Partners, with participation from existing
investors Index Ventures, First Round Capital, Mangrove Capital Partners
and O'Reilly AlphaTech Ventures. The company will use the funds to
accelerate product development and expand its team to support its large
publisher community, which is now using Openads to deliver billions of ads
daily in over 100 countries around the world.
Openads lets publishers take control of their advertising, providing
simple, powerful and independent tools to schedule, manage and track online
campaigns. The software also supports a broad range of ad formats and
advertiser types (including direct advertisers and ad networks such as
Google AdSense, Yahoo! and Advertising.com). The new hosted version will
make it even easier and faster for publishers to make more money from
online advertising by eliminating the need to run the software on their own
servers.
"We are excited to be working with Accel Partners. They have a great
investment track record and share our belief in the power of open source
software and a passionate publisher community to create real change in the
online advertising industry," said James Bilefield, CEO of Openads. "We're
also delighted to announce today the private beta release of the hosted
version of our software, delivering on the strong demand for this service
from publishers large and small. People interested in finding out more
about the private beta program can register their interest at
http://www.openads.org/hosted"
"The rapid growth of the global online advertising market requires the
adoption of next generation infrastructure and services for publishers and
advertisers alike," said Andrew Braccia of Accel Partners. "Openads' open
source heritage and deep global publisher footprint make it uniquely
positioned to play a pivotal role in the evolution of the digital media
landscape."
About Openads
Openads helps publishers make more money from online advertising. The
company provides for free its sophisticated, open source ad serving
software, giving website owners everything they need to schedule, manage
and track their online inventory. Already used by more than 30,000
publishers in over 100 countries around the globe, Openads software
delivers billions of ads every day. Based in London, England, Openads is
backed by leading investors including Accel Partners and Index Ventures.
More information can be found at http://www.openads.org.
About Accel Partners
Accel Partners was established in 1983 with offices in Palo Alto and
London, as well as in China via the IDG-Accel partnership. Accel also has a
partnership that started in 2000 with Kohlberg, Kravis, & Roberts (KKR)
that created the Accel-KKR fund for technology management buyouts. The firm
is dedicated to partnering with outstanding management teams to build
world-class Internet, software and networking companies. With over $4
billion under management, Accel Partners has a long legacy of helping
entrepreneurs build highly successful companies. Accel has a history of
backing category-defining companies, which include Facebook, Glam Media,
AdMob, BitTorrent, Brightcove, Macromedia, Real Networks, MetroPCS, and
Riverbed. For more information, visit the Accel Partners web site at
http://www.accel.com.
SOURCE Openads
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Related links:
http://www.openads.org
http://www.accel.com
CONTACT:
Neil Steinberg of 5W Public Relations,
+1-212-584-4306, nsteinberg@5wpr.com, for Openads
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