US-based advertising technology developer Beeswax has collected $15m in a series B round that included branding services provider You & Mr Jones.
The round was led by RRE Ventures and included fellow venture capital firms Foundry Group and Amasia. It boosted the total raised by the company to $28m since being founded in 2014, the company said.
Beeswax provides what it calls bidder-as-a-service technology, enabling business and marketers to bid on digital ads and create their own programmatic ad services that automate the bidding process. Its customers include Twitch, FourSquare, Cognitiv and Dailymotion.
The company had previously completed an $11m series A round in 2016 that was co-led by RRE Ventures and Foundry Group.
Ari Paparo, chief executive of Beeswax, said: “Brands should not look at the upward trend of programmatic and do nothing. Ultimately, success in programmatic leads to success in the market.
“When marketers make programmatic a core competency in the stack, they begin to recognise a scalable revenue channel that can compete, at the highest level, with Google and Facebook.”