Jelli, the US-based creator of an advertising platform for radio broadcasters, completed a $21m series B round today backed by several corporate investors.
Intel Capital, the corporate venturing arm of semiconductor technology provider Intel, mass media company iHeartMedia and record label Universal Music Group were joined in the round by Relay Ventures and First Round Capital.
Jelli’s cloud-based platform powers programmatic and automated audio ad buying platforms for customers including iHeartMedia, the owner of 858 radio stations, and Expressway from Katz, the industrywide programmatic radio ad buying exchange formed by sales firm Katz Media Group.
Mike Dougherty, Jelli’s CEO, said: “Programmatic advertising is surging across the entire advertising landscape, and by powering iHeartMedia and Katz Media Group’s networks, we are enabling broadcast radio to participate and make buying an audio ad as easy as buying a digital ad.”
Jelli has now raised $37.6m since it was founded in 2007, including $9m in a 2012 round co-led by Intel Capital and Relay Ventures that also featured First Round Capital and angel investors including Roger Ames. Battery Ventures is also a past investor.