Pune and California based realtime bidding and online advertising Pubmatic has announced that it has raised USD 13 million funding led by Nokia Growth Partners reported re/code . Nokia’s John Gardner will join Pubmatic’s board as observer. This is the 5th round of Series E funding by Pubmatic.
Till date, Pubmatic has raised $76 million in funding. In June 2012, they had raised USD 45 million from August Capital, Draper Fisher Jurvetson, Nexus Venture Partners, Helion Ventures and Silicon Valley Bank. Except SVB, all their series D investors too participated in this round.
The money raised by Pubmatic will be utilized to grow internationally as well as to further improve their real time bidding and programmatic advertising platform.
Online advertising landscape has grown leaps and bounds over last decade, and advertisers are now looking for more customized solutions that are relevant to consumer needs. Pubmatic’s advertising platform offers advertisers to show most relevant Programmatic advertisements depending on the consumers’ interests, devices and platforms they use.
Pubmatic was founded in 2006 by Rajeev Goel and Mukul Kumar and they first launched their programmatic ad platform in 2007.