Adaptly, a NYC-based social advertising technology company, has raised $10.5m in Series B funding.
The round was led by Valhalla Partners, with participation from additional new investors Time Warner Investments and Vivi Nevo and existing investors including First Round Capital, Charles River Ventures, Lerer Ventures, and kbs+p Ventures.
The company intends to use the funding for product development, growth of its sales team (http://adaptly.com/jobs) and international expansion.
Founded in 2010 by CEO Nikhil Sethi, Adaptly offers a platform to complete a social media ad buy across multiple social networks including Facebook, Twitter, YouTube, StumbleUpon, etc. The company also announced Evergreen, a new solution that utilizes paid media opportunities on social networks to guarantee content generated by a brand will reach its full audience.
Adaptly’s clients include brands and agencies such as PepsiCo, Diageo, Showtime, Big Fuel, Kraft Foods, among others.