Adaptly Raises $10.5 Million Series B
This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry
Adaptly has raised $10.5 million in Series B funding. Adaptly is a company that manages Facebook ad campaigns, a $3 billion ad business. Adaptly helps marketers buy ads on other social platforms like Twitter and StumbleUpon. This round of funding was led by Valhalla Partners. Other participating investors include Time Warner Investments and Vivi Nevo. Adaptly previously raised $2.7 million.
Adaptly’s founders are Nikhil Sethi (23) and Garrett Ullom (22), who met at Northwestern University. Ullom did not end up graduating yet. Sethi said that the company earned $10 million in 2011 revenue and they will “greatly exceed that” this year. Adaptly has 50 employees and many of them came from Invite Media, an advertising tech company that Google acquired in 2010.