AdBrite Announces $23 Million in Series C Funding

DAG Ventures and Mitsui Ventures Join Sequoia Capital in Backing Innovative AdMarketplaceSAN FRANCISCO, Nov. 30 /PRNewswire/ -- AdBrite, the Internet's AdMarketplace, today announced $23 million in Series C venture funding. Thecurrent round includes follow-on investment by Sequoia Capital as well as newparticipation from DAG Ventures and Mitsui Ventures. AdBrite also announcedthe appointment of Peter Sealey, former Coca-Cola CMO, to the company's boardof directors.

The closing of additional blue-chip investment capital crowns a year ofexpansion and transformation for AdBrite. In the past twelve months, AdBritelaunched a real-time auction model and an expanding range of ad formats todeliver transparency and price-efficiency for online advertisers andpublishers.

"A steady succession of product innovations -- including BritePic, FullPage Ad, and our new Facebook App Channel -- have fueled AdBrite's rapidgrowth," said Ignacio Fanlo, CEO of AdBrite. "This additional funding and newboard expertise will help accelerate our expansion."

Deloitte's Rising Star program recently named AdBrite thethird-fastest-growing young technology company in North America. AdBrite isalso the third-largest ad provider in the US, behind only Google andAdvertising.com in page-views, according to Comscore's October ranking ofadvertising networks.

The current round of funding is the company's third. Sequoia Capital ledAdBrite's Series A round in 2004, and was joined in 2006 by Artis CapitalManagement for the Series B.

"We saw from the very beginning that AdBrite's unique platform could bringincreased efficiency and transparency to online advertisers and publishers,"said Mark Kvamme, Partner at Sequoia Capital. "We are pleased with AdBrite'sprogress in building the Internet's most transparent and trusted advertisingmarketplace."

"AdBrite's success to date demonstrates the considerable market demand fornew, more effective online ad formats and a simple, efficient way foradvertisers to reach engaged consumers on premier mid- and long-tail contentsites," said Young Chung, Partner at DAG Ventures. "We're excited to helpAdBrite expand on its leadership position and enhance its unique offerings."Peter Sealey Joins Board of Directors

In a sign of AdBrite's increasing commitment to enabling major brands toadvertise online, the company announced the appointment of former Coca-ColaCMO Peter Sealey to its board of directors. While at Coke, Sealey wasresponsible for the now-famous "Always Coca-Cola" advertising campaign. Healso served as President of Marketing and Distribution at Columbia Pictures inthe late 80's where his releases include Ghostbusters, La Bamba, Karate Kid,Stand By Me & Tootsie.

About AdBrite

AdBrite is the Internet's Ad Marketplace. The company makes it easy tobuy and sell advertising online, giving advertisers and publishers moretransparency and control than any other ad network. With innovative productslike BritePic, InVideo and Full Page Ad, AdBrite has created a simple and moreeffective advertising marketplace for advertisers and publishers of all sizes.AdBrite serve ads on over a billion pages a day.

AdBrite was founded by Philip Kaplan and Gidon Wise in 2002 and isheadquartered in San Francisco, California. AdBrite is backed by venturecapital firms Sequoia Capital, DAG Ventures, and Mitsui Ventures. For moreinformation, visit http://www.adbrite.com.

About Sequoia Capital

Sequoia Capital provides startup venture capital for very smart people whowant to turn ideas into companies. As the "Entrepreneurs Behind theEntrepreneurs", Sequoia Capital's Partners have worked with innovators such asSteve Jobs of Apple Computer, Larry Ellison of Oracle, Bob Swanson of LinearTechnology, Sandy Lerner and Len Bozack of Cisco Systems, Dan Warmenhoven ofNetwork Appliance, Jerry Yang and David Filo of Yahoo!, Jen-Hsun Huang ofnVIDIA, Michael Marks of Flextronics, Larry Page and Sergey Brin of Google,Chad Hurley and Steve Chen of YouTube and Steve Goldman and Sujal Patel ofIsilon Networks. To learn more about Sequoia Capital visithttp://www.sequoiacap.com/.

About DAG Ventures

DAG Ventures is a venture capital partnership investing in and helpingoutstanding entrepreneurs create leading, long-term companies across a rangeof markets. With roots from the 1980's in cable TV, infrastructure, media, andwireless industries, the partnership today is privileged to work with world-class entrepreneurs as they build tomorrow's leaders in the informationtechnology, energy, and life science sectors.

About Mitsui Ventures

Mitsui Ventures is a provider of early stage venture capital for varioustypes of technology firms with a special expertise in helping to build theirbusinesses globally. Over the years, we have invested in breakthroughtechnologies in the communication, software, information series, life science,and medical device industries and accelerated their growth worldwide. MVCCorp. based in Tokyo is the HQ for Mitsui & Co.'s global venture capitaloperation, with its US arm Mitsui & Co. Venture Partners (MCVP) located in NewYork and Silicon Valley, they manages more than $400 million in venturecapital. Its parent, Mitsui & Co., Ltd. is one of the largest and world's mostdiversified and comprehensive trading, investment, and service enterprises inJapan.SOURCE AdBriteGeorge O'Brien of SutherlandGold Communications, +1-415-858-7167,george@sutherlandgold.com, for AdBrite