Advertising technology startup Clickable has raised another $3 million from its lead investors Union Square Ventures and Pequot Ventures, in a follow-on round to the $3 million it raised last July, confirms CEO David Kidder.
Clickable has also announced former AOL Chairman and CEO Jonathan Miller has joined the company's Board of Directors.
In Miller's words, he joined the Board because Clickable's product--a Web-based online ad management platform--is at the forefront of the "next wave" in interactive advertising.
While major acquisitions like WPP's purchase of 24/7 Real Media and AOL's purchase of Tacoda helped make 2007 the "year of the ad network buys," Miller notes that those networks had been around for a while. The frenzy was a sign that the "first wave has matured," Miller says, "but there's another turn of the wheel coming, and I think Clickable is part of that."
Clickable's ad management platform monitors campaign performance across Google, Microsoft and Yahoo's paid search networks, giving marketers a simplified view of which ads are functioning well and which need to be tweaked. There are suggestions for raising or lowering bids, choosing better keywords or crafting new campaigns with just one click--as well as more in-depth analytics that track cross-network performance over time.
Clickable launched a beta version of the application in September with a client base of 50 companies, and has reportedly gained nearly 1,600 new customers since then.
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