LucidMedia, a Reston, Va.-based provider of an online advertising demand-side platform, has raised $4.5 million in venture debt funding led by MMV Financial. LucidMedia shareholders include Lake Street Capital, RLI Partners, Melton Investments, Redleaf Group and Milan Mandaric.
LucidMedia, a leading online advertising demand-side platform (DSP) with integrated real-time bidding (RTB), today announced that is has received $4.5 million in funding, led by MMV Financial (MMV).
LucidMedia plans to apply the proceeds to continue expanding its recently launched self-service DSP (www.LucidMediaDSP.com) that enables agencies and advertisers to more efficiently manage their online advertising campaigns. The DSP leverages LucidMedia’s patented contextual targeting technologies to provide more than 14,000 categories along with page-level transparency and multiple layers of filtering to protect branded advertisers from inappropriate content.
This funding follows a December 2008 investment from a combination of institutional and individual investors including Lake Street Capital and Redleaf Group.
“With its unique demand-side platform, a strong base of patented technologies and a savvy and experienced management team, LucidMedia is exceptionally well-positioned for continued growth in the online advertising sector,” said April Young, MMV’s Senior Vice President and US Managing Director. “MMV is very pleased to support LucidMedia’s emerging leadership in this vibrant and growing space.”
“We are excited to have the support of the MMV team as we continue to develop unique products that redefine the online advertising industry,” said Tom Ervin, Chief Financial Officer of LucidMedia. “Our DSP represents a major opportunity for advertisers to leverage our technology’s operational efficiencies. We look forward to expanding these efficiencies and building our platform’s profile as an industry leading solution.”
About MMV Financial
MMV Financial is a specialty finance company providing creative debt solutions directly to technology and life sciences companies across North America. MMV is backed by top U.S. and Canadian private equity firms and financial institutions including CCP Equity Partners, Caisse de dépôt et placement du Québec, Fonds de Solidarité FTQ, HSBC Bank Canada, NewStar Financial Inc., ROI Capital, and Wells Fargo Company. For more information please visit www.mmvf.com.
LucidMedia Networks, Inc. (www.lucidmedia.com) is a demand-side online display advertising management and targeting platform that delivers optimized, direct response and brand advertising campaigns to interactive agencies. LucidMedia DSP™ with ClickSense® page-level analysis and intelligent real-time bidding (RTB) is available as both a self-service and managed service to interactive agencies and their brand advertisers. The LucidMedia DSP employs an easy-to-use and secure agency interface to deliver proprietary campaign optimization, consolidated buying across the Internet’s largest repositories, unique insight into real-time inventory availability, universal frequency capping, and reach into 95% of the online population. Founded in 1999, LucidMedia processes 25 billion ad impressions every month for hundreds of major brand advertisers.