Lijit raises $7.1M - but is it legit? (Yes! - bad pun)
Lijit, a company that provides search-powered applications for both individual and network online publishers, announced today that it has closed a $7.1M series C round of financing, led by Foundry Group. Existing investors, Boulder Ventures and Colorado Fund I, managed by High Country Venture, also participated in the round. Lijit will use the proceeds from this financing to launch its search-powered ad network, which empowers publishers to sell their own search ad inventory.
Rewind six months. Lijit just moved into its downtown Boulder offices. It’s December 31st, 2007 and I was sitting at home in my subterranean office thinking, wow – how are we going to make our 2008 numbers… Hmmm.
Then, almost like magic, an incredible publisher signed up – that, at the time, was HUGE. I remember thinking, what a blue bird. But how are we going to make the February numbers! Well, we did make the February numbers and every month between then and now. As a result of our success we decided to pour more gasoline on the fire.
Thanks to Foundry Group, who led our investment round. If you’re going to do something in the online publisher space, get these guys onboard. Nuff said. In fact, all our investors are amazingly supportive and at one time or another have been instrumental in building what we are doing.
Look out, there is no stopping them now! Source: Lijit.com
