lucidmedia

Online Advertising Startup LucidMedia Raises $4.5 Million

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LucidMedia, provider of an online advertising demand-side platform (DSP) with integrated real-time bidding, this morning announced that is has secured $4.5 million in funding, led by MMV Financial (MMV).

The news comes merely a day after word got out that Google reportedly acquired rival Invite Media in a “$70 million range” deal (still unconfirmed at this point), which would significantly narrow down the exit possibilities for LucidMedia.

Either way, LucidMedia plans to use the funds to expand its recently launched self-service DSP platform, which enables agencies and advertisers manage their online advertising campaigns. The DSP leverages LucidMedia’s contextual targeting technologies, which the company says are patent-protected, to provide more than 14,000 categories.

This funding follows a December 2008 investment from investors like Lake Street Capital and Redleaf Group. LucidMedia has now raised $13.3 million in total, according to CrunchBase data. The company was originally founded in 1999.

(Via press release)

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