Online advertising optimization tech firm FatTail has raised $3 million in its first round of funding.  Velocity Interactive Group led the round, and Velocity partner Ross Levinsohn will join FatTail’s board. Woodland Hills, CA.-based FatTail launched in 2004 and rolled out AdBook, a yield management platform that helps large publishers streamline the display ad sales and RFP process. The funding is geared toward helping FatTail scale out and down, as the company has a cheaper platform for smaller advertisers coming down the pike.

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The display ad sales, inventory and process management space was in the spotlight earlier this year, as Microsoft (NSDQ: MSFT) picked up yield management tech and services firm Rapt for an undisclosed amount in March, and Google (NSDQ: GOOG) rolled out its own display ad optimization tool, Ad Manager, also in March. Release.