Adconion Media group, an online advertising network, has secured $80 million in venture funding. The financing is the largest online media venture investment in European history. The investment was led by Index Ventures, who were joined by existing investor Wellington Partners, and represents the first investment made from Index’s recently announced growth fund.
The capital will be used to continue expansion into Europe, US and Asia, strengthening the company’s position as an independent player. In addition, capital will be invested in Adconion’s behavioral targeting technology and also to fund selected acquisitions. Index partners’ Dominique Vidal, former CEO of Yahoo! Europe, and Giuseppe Zocco, the firm’s co-founder, will join Adconion’s board of directors.
Originally posted on February 27, 2008 @ 10:32 am
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