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Openads, which has created an open source adserver, has raised $5 million in Series A financing led by Index Ventures, and additional participation from First Round Capital, Mangrove Capital Partners, and O'Reilly AlphaTech Ventures.
The funding will be used for product development and the expansion of its team. What was originally created to be a technology division within Unanimis, a digital advertising business, Openads has since spun off and has been incorporated as a standalone business. Its service enables publishers to maintain their advertising campaigns with targeting, inventory optimization, rich media forecasting, and can be integrated with at least thirty other leading ad networks around the globe.