PubMatic raises $13 million
PubMatic is an online programmatic advertising company that has raised $13 million in funding led by Nokia Growth Partners. John Gardner of Nokia Growth will be joining the board of directors at PubMatic as an observer. Existing investors August Capital, Draper Fisher Jurvetson, Helion Ventures and Nexus Venture Partners also joined this round.
PubMatic plans on using the funding to grow internationally. The real-time bidding and programmatic ad market is growing since publishers are seeking ways to make up for declines in the traditional display ad market with the growth of mobile and video ads.
Some of PubMatic’s customers include eBay, AccuWeather, The Huffington Post, and TV Guide.