Ad software maker OpenAds clinches $5 million funding

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OpenAds, the developer of a free, open source adserver and a supplier of free software used by Web sites to manage online ad has recently secured a $5 million initial funding to strengthen it prepare for increasing competition. The London-based company is planning to use the funds to accelerate product development and expand its team. The first round of financing is led by Index Ventures in association with US firm First Round Capital, Europe-focused Mangrove Capital Partners, and O’Reilly AlphaTech Ventures, a subsidiary arm of the US technology publisher.

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OpenAds was established as a grassroots, open-source software development project in 1999. At present, the firm has already signed up around 25,000 Web site publishers in more than 100 countries and 20 languages. Openads founder Scott Switzer has said, ‘Publishers are feeling pinched and need to improve their effective CPMs and we are providing a publisher based solution that is free, flexible and easy to use.’

Popular Web sites such as Federated Media, Stardoll, and Sun are among those famous names, which have adopted OpenAds’ servers. By using this server, publishers get total control of banners and campaigns along with a highly sophisticated tracking system for gathering statistics, all from the one simple screen interface. The major strength of the firm is that its global distribution. Its customers from US constitutes only 30 percent and the rest come from markets such as Poland, Brazil and Russia.

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