ContextWeb, an NYC-based contextual advertising company, has raised $15.5 million in its third-round funding. Draper Fisher Jurvetson led the round, and DFJ Gotham Ventures, Updata Partners and DFJ New England also participated. This round of funding, combined with two previous rounds brings total investment to date to more than $27.5 million.
It will use the latest round to fund the growth of contextual advertising solution, ContextAd, and to allow development of new advertiser based products.