In-feed advertising exchange Sharethrough has raised $17m in debt and equity financing.
Elevation Partners, Silver Creek, and Patrick Keane join existing investors North Bridge Venture Partners and Floodgate, in funding Sharethrough’s fourth round of investment.
The funds will be used to accelerate Sharethrough’s growth through continued development of the Sharethrough Advertising Exchange, expanded software tools for publishers and increased engineering and product hiring, the company said.
Sharethrough’s ‘in-feed’ mobile ad technology enables publishers to create and sell native ads directly within their content feeds. The company has partnerships with premium publishers including People, Real Simple, Health, Forbes, Popular Mechanics, USA Today Sports Media Group and IBT Media. The recent round of funding will enable Sharethrough to broadly expand the technology that powers STX, it said. A primary focus will be to enable native distribution of all forms of brand content and to further development of its algorithms for content quality and optimisation.
According to a recent LinkedIn Marketing Solutions study, companies nearly tripled their spend on mobile advertising, from $1.2bn in 2012 to $3bn in 2013.
“I invest in companies that re-imagine categories and invent new ones,” said Roger McNamee, co-founder of Elevation Partners. “Online advertising is broken, and Sharethrough has the technology to fix it.”
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