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TMCNet: ContextWeb Secures $26 Million in Funding

[July 24, 2008]

ContextWeb Secures $26 Million in Funding

(Wireless News Via Acquire Media NewsEdge)
ContextWeb, a contextual advertising company and operator of the ADSDAQ
Exchange, announced that it has closed a $26 million Series D round of
funding.

"We had tremendous interest in the company and received numerous good
financing proposals,'' said Anand Subramanian, CEO of ContextWeb. "We
chose Investor Growth Capital as our partners to lead the round for
their market expertise, track record in creating sector leading
companies and ability to help us expand in markets outside North
America, especially in Europe.''

All of the existing investors in the company, which includes DFJ, DFJ
Gotham Ventures, Updata Partners, DFJ New England, plus Gold Hill
Capital also participated. This round of funding, combined with three
previous rounds, brings ContextWeb's total equity investment to date to
$54 million.

In conjunction with the financing, Walley has been appointed to
ContextWeb's Board of Directors. Existing members of the board include:


Subramanian, CEO of ContextWeb; Shanthini Sarkar, Chief Product Officer
of ContextWeb; John Fisher, Managing Director of DFJ; Ross Goldstein,
Managing Director of DFJ Gotham Ventures; Conor Mullett, General
Partner of Updata Partners; Marshall Cohen, Member/Partner of the Pilot
Group; and Wenda Harris Millard, Co-CEO and President, Media, Martha
Stewart Living Omnimedia.

((Comments on this story may be sent to newsdesk@closeupmedia.com))

((Distributed on behalf of 10Meters via M2 Communications Ltd -
http://www.m2.com))
((10Meters - http://www.10meters.com))

Copyright ? 2008 Wireless News

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