Monday, December 17, 2007

AdReady Raises $10M in Venture Funding

AdReady, a developer of online advertising technologies, reported Monday that it has secured $10 million in venture financing. The Seattle-based company said Bain Capital Ventures of Boston led the round. Silicon Valley-based Khosla ventures and existing investor Madrona Venture Group also participated, AdReady noted. Aaron Finn, AdReady's chief executive officer, said his company will use the latest funds to improve upon its self-service advertising platform and to market the application to a larger audience. In a related development, Ajay Agarwal, Bain Capital Ventures' managing director, has joined AdReady’s board of directors. AdReady recently appointed Jason Kilar, CEO of online video service Hulu, to its board, as well.