Drawbridge?s $14M Round Valued The Cross-Device Ad Targeting Startup At $99M

Drawbridge, a Kleiner Perkins- and Sequoia-backed startup aiming to improve mobile and cross-device ad targeting, has raised $14 million in Series B funding. AdAge actually broke the news earlier this week, but a source with knowledge of the deal told me that the story got one crucial detail wrong ? the new funding actually valued Drawbridge at $99 million, more than double the $45 million that AdAge reported. I trust my source more than I trust AdAge's unidentified "executive familiar with the deal," but then I would, wouldn't I? For those of you following along at home, this might seem like a classic he-said she-said situation. I will point out, however, that $45 million seems like a pretty low valuation for a company that has raised a total of $20.5 million in funding. Plus, raising $14 million at that valuation would mean giving away a lot of the company. Since Drawbridge is a young startup that only raised its Series A and launched its first products last year, it probably isn't so cash-strapped that it needs to take money on such unfavorable terms.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/iZ-PsgXRNlM/

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