Adchemy Inc., a Foster City, CA-based advertising technology company, has completed a $61m Series E financing round.
Backers include Microsoft Corp. (NASDAQ: MSFT), which will take a minority stake in Adchemy, August Capital and the Mayfield Fund.
The company intends to use the funds to grow its team (read here) and to rapidly develop its platform.
Led by founder and CEO Murthy Nukala, Adchemy has developed a technology (IntentMap™) designed to allow advertisers to simplify their paid search campaigns, and improve ad relevance leveraging consumer intent.
The company has also broadened an existing technology partnership with Microsoft Advertising.
, which is designed to expand the availability of the Adchemy IntentMap™ technology to Microsoft adCenter customers and help them create more relevant ads based on consumer and improve campaign effectiveness.
FinSMEs
21/09/2011