nToggle, a Boston, MA-based ad tech company in stealth mode, closed $5.6m in Series A funding.
The round was led by Sigma Prime Ventures and Bessemer Venture Partners (BVP).
The company intends to use the funds to continue to advance the platform.
Founded by ad tech veteran Adam Soroca (former chief product officer at Jumptap, acquired by Millennial Media), nToggle uses a proprietary algorithm-driven software platform for supply and demand partners manage their bid stream. The company’s big data platform “toggles” real time bidding requests across all digital media, utilizing analytical and machine learning techniques to optimize supply and demand matching.
The beta rollout is expected later this quarter with industry leading supply and demand partners.
Angel investors in nToggle include Mike Baker, DataXu CEO; Ric Cavillo, Nanigans CEO; John Hadl, investor and industry veteran; Eric Roza, DataLogix CEO; Howie Schwartz, former founder and CEO of Human Demand; Chris Scoggins, DataLogix SVP/GM; and Sourabh Niyogi, co–founder, CEO MdotM. George Bell, former Jumptap CEO, and Hadl, who was a Jumptap board member, will also serve as independent members of the Board of Directors.
FinSMEs
03/03/2015