Time Warner Investments, the corporate venturing division of media group Time Warner, has joined the consortium backing AdMeld, a US-based provider of online advertising services.
AdMeld has raised $15m in its series C round from Time and venture capital firms Norwest Venture Partners, Foundry Group and Spark Capital.
The company had raised $8m in its series B round in June last year from Spark and Foundry, which had provided $7m in its series A round during the previous November.
The company’s software optimises ads across more than 395 million unique users globally by processing more than 40 billion ad transactions per month. Rachel Lam, senior vice president of Time Warner Investments who joined the group in 2001 to lead what was then the $100m AOL Time Warner Opportunity Investment Fund to invest in minorities and women, said: "AdMeld has outstanding potential to redefine the online advertising marketplace.
"AdMeld [can] help Time Warner’s online publishing groups maximise their value in the online ad market."