Bidtellect, a leading Native Advertising technology and solutions company, today announced a new round of strategic funding to further accelerate its robust growth in the native advertising marketplace.
The company has raised $22.35 million in total funding in its series B round, led by Blue Chip Venture Company, and joined by G20 Ventures and previous venture investor Valhalla Partners. This new funding supplements the $4.4 mil. raised in its series A in 2012. Bidtellect was founded by Chairman John Ferber, who also co-founded Advertising.com, which was sold to AOL in 2004 for $500 million.
“We are delighted to welcome aboard such esteemed investor partners as these,” said Bidtellect CEO Lon Otremba. “While we’ve accomplished a great deal thus far, this capital provides us the resources to expand our capabilities in several areas, including programmatic and content recommendation, which will dramatically accelerate our growth trajectory even further.”
A rapidly expanding segment of digital advertising, Native ads, as described by the IAB (Interactive Advertising Bureau), are paid ads that are so cohesive with the page content, assimilated into the design, and consistent with the platform behavior that the viewer simply feels that they belong. eMarketer estimates that U.S. Native ad spend will double from 2014 to 2016 to nearly $6 billion.
Touting Bidtellect’s Native Intelligence® approach, Mr. Otremba said the new funds will be invested in expanding and enhancing the company’s technology infrastructure; product development; and expanding in-market activities, including accelerating sales activity in Europe and Asia. In addition to its Native demand-side-platform (nDSP) and Native supply-side-platform (nSSP) offerings, Bidtellect launched the industry’s first open native programmatic exchange using the IAB’s OpenRTB 2.3 specification. The platform already sees in excess of 500 million auctions each day.
“We are experienced investors in this sector and have been evaluating opportunities in Native for some time, as we firmly believe substantial growth will be achieved by companies with the most advanced technologies that execute well. Bidtellect’s technology and management team are second to none,” said Blue Chip Venture Company’s founder and Managing Director Jack Wyant.
Launched in 2013 by a group of the digital media industry’s most successful ad tech pioneers, Bidtellect® is the global leader in Native Advertising technologies and solutions. The Bidtellect platform – built from the ground up to accommodate the unique challenges associated with delivery of targeted Native ads across all devices and in all formats — offers advertisers, agencies and media companies a unique and powerful toolset. Bidtellect’s proprietary state of the art technology – the most advanced in the industry today – allows Native ad planning, buying, selling and overall management on a single platform. By utilizing Bidtellect’s Native DSP (nDSP), Native SSP (nSSP) and openRTB 2.3 Native Exchange, advertisers and publishers can now implement effective Native campaigns at scale with maximum optimization and ROI.