Marin Software has secured an additional $16 million (£9.8m) in Series E financing, as the online ad management platform wins a raft of new clients.
The news comes as Marin reaches a company milestone, managing $2bn in ad spend for clients through its online ad management platform.
The company has recently signed clients including ZenithOptimedia, iProspect, eHarmony, and Netflix.
On Marin Software’s growth over the past year, Ed Stevenson, Managing Director, EMEA & APAC commented, “As the largest third-party aggregator of paid search spending for online advertisers and agencies in the world, Marin is able to deliver unique benefits to its customers including industry best practices, preferred relationships with publishers, and enterprise-class product innovation and service delivery. Reaching $2 billion of search spend managed via the Marin platform is a clear vote by our customers that Marin’s technology delivers financial lift, time savings, and better insights for their online marketing programs.”
Crosslink Capital led the round with participation from Marin’s existing venture capital investors including Benchmark Capital, DAG Ventures, Focus Ventures and Triangle Peak Partners.
The company also announced that Eric Chin, partner at Crosslink Capital, will join the Board of Directors as an observer and that former Shutterfly VP of Finance John Kaelle has joined the executive team as Executive Vice President and Chief Financial Officer.
Marin Software will invest the Series E funding to support the growth of its global customer base which includes many of the world’s leading advertisers and agencies spanning diverse industries such as retail, education, financial services, online gaming, insurance, travel, automotive and B2B. Marin Software currently serves 800 clients worldwide and manages 600 million keywords.
The company will use the funding to support continued international expansion. Marin Software recently announced its expansion into Asia with new offices in Singapore and Shanghai, and plans to expand into France, Australia, and Brazil in 2011.
In the past year, Marin Software expanded its product offering beyond paid search and now offers advanced applications for managing Facebook ads, as well as Marin Retargeting, a complete workflow, analysis, and optimisation solution for advertisers and agencies seeking to manage display retargeting as an integrated part of the online media mix.
www.marinsoftware.com/