US-based online advertising firm Rubicon Project has raised $18m in its latest round of funding and agreed its second acquisition of the year.
Rubicon has completed its acquisition of media group News Corporation’s Fox Audience Network ad technology platform. News Corp will retain a minority equity stake in the combined entity and also invest in the $18m round for Rubicon.
Rubicon said the other investors in the round were corporate venturing units IDG Ventures Asia and Peacock Equity Fund and venture capital firms Clearstone Venture Partners and Mayfield Fund and angel investor Jarl Mohn, the founding executive president of Liberty Digital.
Rubicon said it reached profitability in October, ahead of plan and excluding any revenue from the Fox acquisition, and would post more than $100m in revenue this year.
In May, Rubicon acquired SiteScout, a Seattle-based provider of software security technology and previously raised $42m in equity and debt.