San Mateo, Calif. -- Adap.tv, the San Mateo-based developer of an online video advertising platform that allows publishers and advertisers to match relevant advertising with online video content, said on Tuesday that it has raised $13 million in its second round of funding, led by Spark Capital. Previous investors Redpoint Venture and Gemini Israel Fund also participated in the round, which the company will use to accelerate the development of its flagship offering, Adap.tv OneSource, and its adoption by video publishers and online ad networks. Founded in 2005, Adap.tv utilizes sophisticated algorithms that analyze video content and determine the most relevant ad, while also adapting to viewer behavior. The company, which raised $10 million in its first round last summer, is led by CEO Amir Ashkenazi, formerly the co-founder and CTO of Shopping.com.
http://www.adap.tv
http://biz.yahoo.com/prnews/080923/aqtu061.html?.v=64
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