ContextWeb Launches ContextAd, Closes $3M in First Round Funding, Names Board of Directors

Sep 21, 2004

ContextWeb, Inc., a provider of contextual advertising solutions, has announced the launch of ContextAd, a successful round of funding, and a new board of directors.

ContextAd is intended to alter online advertising dynamics by connecting advertisers to motivated customers with greater accuracy and speed. ContextAd uses both content and keywords for analysis and matching. Because it is real-time, ContextAd is also designed to respond to adjustments in the content of a Web site by delivering new ads. ContextAd augments searches with reporting capabilities, allowing advertisers and publishers to determine campaign effectiveness and alter location, site, and timing of advertisements.

ContextWeb has also announced that it has completed a $3 million first round of venture funding led by Draper Fisher Jurvetson (DFJ) Gotham Ventures, with additional funding by DFJ New England and DFJ California. ContextWeb also announced the establishment of a board of directors assembled to help further support the company's growth and development. The new board of directors will provide ongoing support and guidance as ContextWeb continues to grow. Board members include Anand Subramanian, CEO; Jeremy Sterns, CTO; Chip Meakem, DFJ principal; Scott Johnson, managing director DFJ New England; and William Wise, COO of MaxOnline.