AdReady Blog

AdReady Closes $10 Million in Venture Funding to Fuel Growth of Self-Service Advertising Platform

Seattle, WAAdReady, an innovative advertising technology company, announced today that it has raised $10 million in venture funding led by Boston-based Bain Capital Ventures. Silicon Valley-based Khosla Venturesand current investor Madrona Venture Group also participated in the round.

"This round of funding will enable us to enhance AdReady’s self-service advertising platform and bring it to a much broader audience," said Aaron Finn, CEO of AdReady. "We are excited to add the resources and expertise of Bain Capital Ventures and Khosla Ventures to the AdReady team as we focus on growing our business in 2008 and beyond."

AdReady launched its flagship offering at www.adready.com, in mid-October. This Web-based service allows advertisers to customize field-tested online banner ads in minutes for free. Advertisers can then use AdReady’s platform to run and optimize targeted campaigns across the Internet. AdReady also enables publishers, and agenciesto offer a co-branded version of AdReady’s self-service advertising platform directly to their own clients.

"AdReady is meeting a tremendous need in the marketplace today," said Ajay Agarwal, Managing Director with Bain Capital Ventures. "Businesses of all sizes need more effective and scalable ways to market themselves online. AdReady’s platform eliminates the barriers that have limited online display advertising to only the largest businesses and agencies."

Agarwal will join AdReady’s board of directors as part of the financing. The company recently named Jason Kilar, CEO of online video service Hulu, to its board of directors.

"Ajay’s tremendous track record with early-stage growth companies, both as an investor and an executive, and his core analytical philosophy will be great assets to AdReady," said Finn. "We’re looking forward to him joining our board of directors and sharing his knowledge and experience with our management team."

About AdReady
AdReady is an innovative advertising technology company offering the world’s most advanced self-service online display advertising solution. AdReady offers marketers the ability to build and deploy effective online display campaigns based on proven performance creative. Publishers can tap the power of AdReady’s patent-pending platform for their advertisers through AdReady’s co-branded solution. Seattle-based AdReady is led by a team of Internet veterans and backed by Bain Capital Ventures, Khosla Ventures, and Madrona Venture Group. For more information, visit www.adready.com.

About Bain Capital Ventures
Bain Capital Ventures is the Boston-based venture capital arm of Bain Capital. Founded in 1984, Bain Capital and its affiliates have invested in over 230 companies with such notable venture successes as DoubleClick, Shopping.com, and Staples. Bain Capital Ventures invests across all stages of a company’s growth from providing seed capital through offering late stage growth equity. Bain Capital Ventures and its early stage companies benefit from the broader resources of Bain Capital, including more than 400 investment professionals across North America, Europe, and Asia, over $40 billion of assets under management, and the knowledge gained from 20 years of successful venture investing. For more information, visit www.baincapitalventures.com.

About Khosla Ventures
Khosla Ventures offers venture assistance, strategic advice and capital to entrepreneurs. Vinod Khosla founded the firm in 2004 and was joined by partners David Weiden and Samir Kaul, as well as chief scientific officer Doug Cameron in 2006. Khosla Ventures is based in Menlo Park, California. For more information, visit www.khoslaventures.com.

About Madrona Venture Group
Madrona Venture Group is an early-stage venture capital firm focused on building leading technology companies based in the Pacific Northwest. Founded in 1995, Madrona invests predominately in seed and Series A rounds across the information technology spectrum, including digital media and advertising, Internet, software, and wireless. Madrona currently manages over $425 million and was an early investor in companies such as AdRelevance, Amazon.com, Classmates.com, Isilon Systems, and ShareBuilder. For more information, visit www.madrona.com.

Contact:
Justin Baker
AdReady
206-792-5184
[email protected]