Adchemy, an advertising technology company has claimed that it raised $61 million during its Series E funding from Mayfield Fund, Microsoft Corp. and August Capital.
With this latest achievement, the total funding of the company has touched the $120 million landmark, Adchemy revealed.
Meanwhile, the Redmond based software powerhouse Microsoft has also announced that it inked a new tie-up with Adchemy, which will see it extending the company’s ad technology to Microsoft’s very own adCenter customers.
Adchemy started its journey in the ad-technology domain some six years back in 2005. It is primarily known for its intent-driven online advertising technology, designed to assist advertisers in delivering a quality and relevant ad experience to the Web user community across the world based on intent rather than keywords.
Adchemy was founded by the company’s acting chief executive officer Murthy Nukala and late Rajeev Motwani. Motwani has been a mentor to search giant Google’s co founders Sergey Brin and Larry Page.
“Moving away from keywords and focusing on a consumer’s underlying intent is a massive paradigm shift that radically simplifies ad campaigns and enables advertisers to address consumer queries in a significantly more relevant way, at a scale unprecedented in the industry,” Murthy said, according to TechCrunch.