RESTON, VA – LucidMedia, an online contextual display advertising platform and meta-network, has closed an $8.8 million funding round led by a combination of institutional and individual investors.

Investors include Lake Street Capital, RLI Partners, Melton Investments, Silicon Valley investment veteran Milan Mandaric, and Redleaf Group, whose CEO, Michael Tomana, has joined the company’s board.

This is LucidMedia’s third round of funding.

The round includes the value of converted debt. It will support the launch of the company’s contextual advertising network and the opening ofa NYC Madison Avenue sales office.

The company says its contextual relevance at the page-level for unparalleled targeting, transparency, optimization, and inventory. It analyzes page content to ensure display advertising is relevant.

Through its patented ClickSense contextual advertising and targeting engine, LucidMedia categorizes traffic from many of the Web’s most respected networks and exchanges in both English and Spanish.

This helps advertisers effectively target online advertising inventory and increase their return-on-spend.

Formerly known as Entrieva, LucidMedia was founded in 1999 and launched ClickSense in 2004.

The company says many of the world’s largest interactive agencies, Web advertisers, ad networks, and ad exchanges are using the platform.

On the Web:www.lucidmedia.com

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