Ranked by Deloitte as one of the fastest growing companies in the US Internet sector in both 2012 and 2013, PubMatic, an advertising platform company, announced in February that it had raised $13m in a deal led by Nokia Growth Partners (NGP).The deal proceedings actually started in 2013, according to a press statement by PubMatic.
Other investors in the company and in this latest round include private equity firms August Capital, Draper Fisher Jurvetson, Helion Ventures, and Nexus Venture Partners. The company has raised $76m since 2008, with investors returning to almost each round. This deal is the second round of expansion capital the company has raised having raised a series C round in 2010 ($7.5m). Its largest single fundraising was in 2012 when it raised $45m. Silicon Valley Bank invested in that round.
PubMatic’s focus is on cross-channel software that optimises the workflow and delivery for the selling and buying of ads across multiple screens using a single platform. Nokia Growth Partners has invested in this space before including Rocket Fuel, which recently listed on NASDAQ.
“PubMatic has taken a decided cross-screen strategy that we think sets it apart by uniquely satisfying the needs of mobile and display for publishers,” said John Gardner, partner at Nokia Growth Partners based in the Silicon Valley. “Their proprietary technology helps reduce friction for publishers managing advertising sales across desktop and mobile.”
“As the industry approaches a tipping point in the adoption of RTB (Real Time Bidding) and programmatic advertising, the investment from Nokia Growth Partners will enhance our direct market access by plugging into the global NGP and Nokia presence,” said Rajeev Goel, co-founder and CEO of PubMatic. “NGP has a strong track record in mobile and PubMatic is delighted to join their family of portfolio companies.”