Redwood,CA-based programmatic advertising platform PubMatic announced that it has received $13 million investment led by Nokia Growth Partners. Current investors August Capital, Draper Fisher Jurvetson, Helion Ventures and Nexus have also participated in the funding. With the investment, John Gardner of NGP joins PubMatic’s executive board as an observer. The amount of shares that changed hands with the investment has not been disclosed.
PubMatic focuses mostly on providing combined multi-screen advertising solutions through cross-platform softwares that optimize the selling and buying processes of ads. New investment will support company’s geographic market expansion as well as mobile ad innovations, official press release said. This is NGP’s ninth investment in ad tech and data.
“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. John Gardner, a partner at Nokia Growth Partners based in the Silicon Valley, said they chose to invest in PubMatic because the company “uniquely satisfies the needs of mobile and display for publishers with their proprietary technology”.
In a world where advertising is very much fractured between and within conventional and digital platforms, cross-platform planning of ads complete with client-specific strategies is terribly needed by the publishers and clients alike. This is where PubMatic positions itself as a solution-finder.
PubMatic’s recent addition of video RTB to its existing mobile and display capabilities is rapidly gaining traction, and establishes the company as providing the industry’s only “One Platform” solution for publishers operating across mobile, tablet and display. It ranked by Deloitte as one of the fastest growing companies in the US internet sector in both 2012 and 2013. PubMatic has offices worldwide with headquarters in Redwood City, California.