LONDON, January 16 /PRNewswire/ --

- Announces private beta of free, hosted version of popular Openads ad
serving software

Openads, the developer of the free, open source ad server now used by
more than 30,000 publishers worldwide, today announced the completion of its
Series B financing. The US$15.5 million investment was led by Accel Partners,
with participation from existing investors Index Ventures, First Round
Capital, Mangrove Capital Partners and O'Reilly AlphaTech Ventures. The
company will use the funds to accelerate product development and expand its
team to support its large publisher community, which is now using Openads to
deliver billions of ads daily in over 100 countries around the world.

Openads lets publishers take control of their advertising, providing
simple, powerful and independent tools to schedule, manage and track online
campaigns. The software also supports a broad range of ad formats and
advertiser types (including direct advertisers and ad networks such as Google
AdSense, Yahoo! and Advertising.com). The new hosted version will make it
even easier and faster for publishers to make more money from online
advertising by eliminating the need to run the software on their own servers.

"We are excited to be working with Accel Partners. They have a great
investment track record and share our belief in the power of open source
software and a passionate publisher community to create real change in the
online advertising industry," said James Bilefield, CEO of Openads. "We're
also delighted to announce today the private beta release of the hosted
version of our software, delivering on the strong demand for this service
from publishers large and small. People interested in finding out more about
the private beta program can register their interest at 
www.openads.org/hosted"

"The rapid growth of the global online advertising market requires the
adoption of next generation infrastructure and services for publishers and
advertisers alike," said Andrew Braccia of Accel Partners. "Openads' open
source heritage and deep global publisher footprint make it uniquely
positioned to play a pivotal role in the evolution of the digital media
landscape."

About Openads

Openads helps publishers make more money from online advertising. The
company provides for free its sophisticated, open source ad serving software,
giving website owners everything they need to schedule, manage and track
their online inventory. Already used by more than 30,000 publishers in over
100 countries around the globe, Openads software delivers billions of ads
every day. Based in London, England, Openads is backed by leading investors
including Accel Partners and Index Ventures. More information can be found at
www.openads.org.

About Accel Partners

Accel Partners was established in 1983 with offices in Palo Alto and
London, as well as in China via the IDG-Accel partnership. Accel also has a
partnership that started in 2000 with Kohlberg, Kravis, & Roberts (KKR) that
created the Accel-KKR fund for technology management buyouts. The firm is
dedicated to partnering with outstanding management teams to build
world-class Internet, software and networking companies. With over 
US$4 billion under management, Accel Partners has a long legacy of helping
entrepreneurs build highly successful companies. Accel has a history of
backing category-defining companies, which include Facebook, Glam Media,
AdMob, BitTorrent, Brightcove, Macromedia, Real Networks, MetroPCS, and
Riverbed. For more information, visit the Accel Partners web site at
www.accel.com.

Web site: http://www.openads.org
              http://www.accel.com