Openads Closes $15.5 Million Series B Funding Led by Accel Partners

Announces private beta of free, hosted version of popular Openads ad

serving software

Jan 16, 2008, 00:00 ET from Openads

    LONDON, Jan. 16 /PRNewswire/ -- Openads, the developer of the free,
 open source ad server now used by more than 30,000 publishers worldwide,
 today announced the completion of its Series B financing. The $15.5 million
 investment was led by Accel Partners, with participation from existing
 investors Index Ventures, First Round Capital, Mangrove Capital Partners
 and O'Reilly AlphaTech Ventures. The company will use the funds to
 accelerate product development and expand its team to support its large
 publisher community, which is now using Openads to deliver billions of ads
 daily in over 100 countries around the world.
     Openads lets publishers take control of their advertising, providing
 simple, powerful and independent tools to schedule, manage and track online
 campaigns. The software also supports a broad range of ad formats and
 advertiser types (including direct advertisers and ad networks such as
 Google AdSense, Yahoo! and The new hosted version will
 make it even easier and faster for publishers to make more money from
 online advertising by eliminating the need to run the software on their own
     "We are excited to be working with Accel Partners. They have a great
 investment track record and share our belief in the power of open source
 software and a passionate publisher community to create real change in the
 online advertising industry," said James Bilefield, CEO of Openads. "We're
 also delighted to announce today the private beta release of the hosted
 version of our software, delivering on the strong demand for this service
 from publishers large and small. People interested in finding out more
 about the private beta program can register their interest at"
     "The rapid growth of the global online advertising market requires the
 adoption of next generation infrastructure and services for publishers and
 advertisers alike," said Andrew Braccia of Accel Partners. "Openads' open
 source heritage and deep global publisher footprint make it uniquely
 positioned to play a pivotal role in the evolution of the digital media
     About Openads
     Openads helps publishers make more money from online advertising. The
 company provides for free its sophisticated, open source ad serving
 software, giving website owners everything they need to schedule, manage
 and track their online inventory. Already used by more than 30,000
 publishers in over 100 countries around the globe, Openads software
 delivers billions of ads every day. Based in London, England, Openads is
 backed by leading investors including Accel Partners and Index Ventures.
 More information can be found at
     About Accel Partners
     Accel Partners was established in 1983 with offices in Palo Alto and
 London, as well as in China via the IDG-Accel partnership. Accel also has a
 partnership that started in 2000 with Kohlberg, Kravis, & Roberts (KKR)
 that created the Accel-KKR fund for technology management buyouts. The firm
 is dedicated to partnering with outstanding management teams to build
 world-class Internet, software and networking companies. With over $4
 billion under management, Accel Partners has a long legacy of helping
 entrepreneurs build highly successful companies. Accel has a history of
 backing category-defining companies, which include Facebook, Glam Media,
 AdMob, BitTorrent, Brightcove, Macromedia, Real Networks, MetroPCS, and
 Riverbed. For more information, visit the Accel Partners web site at

SOURCE Openads