PubMatic raises $45m in mezzanine financing from VC players

PubMatic raised a $7 million through a Series A round in January 2008 from Nexus, Helion and Draper. The same investors committed another $3.5 million in March 2009 and $7.5 million in April 2010. Following the latest round, the company's next step is likely to be an IPO.

Established in 2006, PubMatic develops technology to help publishers automate the process of evaluating and selling their advertising inventory. Premium publishers are also granted a real-time media selling platform for managing revenue and brand strategy.

The latest investment will be used to expand PubMatic's targeted acquisition strategy and support the company's balance sheet.

"Over the past 18 months, PubMatic has solidified its position as the leading independent publisher platform via organic development, partnerships, and acquisitions," Rajeev Goel, co-founder and CEO of PubMatic, said in a statement. "The additional funding will further our mission of making it easier for buyers and sellers of advertising to work together,"

Eric Carlborg, a partner at August Capital, has joined the PubMatic board as part of the investment. August manages $1.3 billion in capital and has invested in technology companies including Atheros, Postini, Splunk and Seagate, as well as digital media companies such as Adchemy, SAY Media and Adara Media.

Speculation about an IPO started when former Kodak Gallery CFO Steve Pantelick joined the company last November. Pantelick said in a press release at that time that his experiences in "helping innovative companies expand their global footprints and build IPO ready businesses fits well with what PubMatic is doing as it moves into Europe and Asia."

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• Topics
• South Asia
• Technology
• India
• Helion Ventures
• TMT
• Mezzanine
• Nexus India Capital Advisors
• Draper Fisher Jurvetson