Hold The Phone – Adknowledge Actually Raises $200 Million, Plans Acquisitions
Did I say online advertising company Adknowledge raised $45 million in venture capital? I did, and they did, but they actually raised more than four times as much, in a combination of debt and equity financing.
I’m still waiting for someone at Adknowledge to get back to my requests for information, but this morning they publicly announced that they’ve secured $200 million in funding to pursue acquisitions in the online advertising space.
As I suspected, growth equity firm JMI Equity was one of the investors, but Bank of America took care of the debt financing part of the equation.
In a statement, Adknowledge says it plans to use the funding to further expand its network so advertisers can access inventory from valuable segments of the long tail marketplace online, such as mobile, video, content sites, and display.
The company also boasted that it closed 2010 as the largest privately-owned internet advertising network in the U.S. with over 330 employees, and $300 million in revenue.
JMI Equity General Partner Brad Woloson has joined Adknowledge’s board of directors.
- Wow – Online Advertising Company Adknowledge Raises $45 Million
- Social Gaming Company Kabam Raises $30 Million, Plans Acquisitions
- Gaming Site OMGPOP Raises $10.1 Million, Plans Acquisitions
- OpenX Secures $20 Million In Series D Funding To Fuel Growth, Acquisitions
- Daily Deal Aggregator Monster Offers Raises $10 Million In Equity Financing