AdReady, a Seattle-based provider of software solutions for digital display advertising, has raised $5.3 million in Series B funding. Return backers include Madrona Venture Group, Bain Capital Ventures and Khosla Ventures. The company previously raised $10 million.
AdReady, a pioneering technology company that delivers powerful yet easy-to-use software solutions for digital display advertising, today announced it has raised $5.3M to help meet the growing demand for its display advertising technology platform for agencies, advertisers and publishers. The company had full participation from current investors Madrona Venture Group, Bain Capital and Khosla Ventures.
AdReady also announced the addition of software industry veteran Steve Singh to the Board of Directors. Singh, chairman and CEO of Redmond, WA-based Concur (NASDAQ: CNQR), the world’s leading provider of on-demand Employee Spend Management solutions, has extensive experience growing technology businesses into market leaders. His expertise will be important as the company grows its customer base and seizes new opportunities around the display advertising sector – a market expected to reach nearly $17 billion by 2014.
“We are thrilled to receive another round of funding and to be adding another technology pioneer to our board,” said Karl Siebrecht, President and CEO of AdReady. “Steve’s experience taking enterprise software and making it accessible and affordable to companies of all sizes will be invaluable to AdReady as we continue to drive widespread uptake for display advertising among businesses.”
“I’ve been fortunate in my career to work with amazingly talented and dedicated people,” said Singh. “Building a business that transforms sophisticated, complex and expensive applications into on-demand services for organizations of all sizes is incredibly rewarding. I’m excited to join the board of a company that shares my passion for innovation and delivering value to the customer, and I look forward to offering my perspective to help AdReady’s continued growth.”
AdReady’s platform delivers the power and sophistication of multiple best-in-class enterprise software solutions for digital display advertising in a simplified, cost-effective, yet highly powerful next-generation platform. The platform is for large agencies and companies trying to efficiently reach micro-targeted segments and mid-sized companies trying to cost-effectively go digital. AdReady provides centralized, single-point control across all major publishers for end-to-end display advertising management. AdReady’s technology platform was recently named “Best Ad Delivery Platform Innovation” by the Digital Publishing and Advertising Conference (DPAC). The company was also named “Service Provider of the Year” by the Washington Technology Industry Association (WTIA). To learn more, please visit www.adready.com, follow us on Twitter @AdReady, or find us on Facebook.