Internet advertising company BlueLithium, Inc. says it's closed a Series A financing totaling approximately $11.5 million. The investment was led by WaldenVC and 3i.
The funds will be used to expand advertising sales operations globally, most immediately with a UK presence, and to further deploy BlueLithium's optimization technology, the San Jose company says.
Founded in 2004, BlueLithium, of San Jose, says it is already profitable and operating at a multi-million dollar run rate. Its network includes over 1,000 sites and delivers several billion impressions per month, it claims. In December 2004, it says it reached over 100 million unique users worldwide.