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NEW YORK Ad network ContextWeb said it closed a $9 million round of venture financing, bringing its total backing to more than $12 million.
Updata partners led the Series B round, joining Draper Fisher Jurvetson Gotham Ventures, which led ContextWeb’s $3 million Series A funding that closed in September. Conor Mullett, general partner at Updata, has joined ContextWeb’s board of directors.
The New York-based ContextWeb’s ad network competes with Google and other networks as a provider of content-targeted advertising.
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