Online ad sales support provider WideOrbit has raised a $14.5 million third round funding from Khosla Ventures, Greycroft Partners and Hearst Ventures. A company rep told me that WideOrbit previously raised a first round of $3.5 million and a second round of $8 million. The San Francisco software maker claims to help manage about $10 billion in online ads from about 900 TV stations, radio stations, and cable networks, as well as managing advertising for movie theaters, mobile devices, and digital display networks. Release
– Reuters: WideOrbit has more than doubled its staff in the past 18 months. It has roughly 200 staffers now. The company’s founder, CEO Eric Mathewson, has a finance background. His focus on derivatives gave him a particular appreciation for the kind of automated pricing used by ad networks. And so, when setting up his company, he had a few ideas on how to improve the process of pricing media, which is often done overnight, though some only do it weekly or even semi-annually. Mathewson: “The only people that understand the speed at which my inventory is being depleted are the people running my inventory systems. So we do understand that, but an outsider like Google (NSDQ: GOOG) or MSN, they don’t know that information.”
Disclaimer: Greycroft Partners is also an investor in our parent company ContentNext Media.