Facebook advertising and marketing developer Optimal announced the additions of $7 million of funding, as well as an executive to oversee that cash, as former Live Gamer Senior Vice President of Finance and Operations Paul Suh joined the company as chief financial officer.
Optimal said investors from its previous series-A round participated in the new series-B round — Neu Ventures, Stonnington Asset Allocation Fund, and WGI Group — and they were joined by DoubleRock, The Social Internet Fund, Siemer Ventures, Signal Ventures, John Pappajohn, Warren Adelman (former CEO of GoDaddy), Social Starts, James Altucher, and Silicon Valley Bank.
Altucher and DoubleRock’s Suraj Kumar Rajwani will also join Optimal’s board of directors.
As for Suh, prior to Live Gamer, he also worked with GamerDNA Media, Flexplay Technologies, and About.com.
Optimal Founder and CEO Rob Leathern said:
We’ve quadrupled social media ad revenue year-over-year while building awesome real-time ad-buying and analytics technology. Paul Suh brings the strong financial and operating expertise that will help us continue to rapidly scale the business in 2013 and beyond and build upon our leadership in the space. He shares our core values of transparency, commitment to technology innovation, and client focus, and I’m ecstatic that he’s a part of our management team.