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May 9, 2012 05:06 pm GMT

Social Ad Startup Adaptly Raises $10.5M From Valhalla And Time Warner

adaptly logoAdaptly, a startup that manages ad campaigns across multiple social networks, just announced that it has raised $10.5 million in a Series B round of funding. At the same time, it's launching a new product called Evergreen to help advertisers promote their social network content.The round was led by Valhalla Partners, with participation from Time Warner Investments and Vivi Nevo all three are investing in Adaptly for the first time. The company previously raised a $2.7 million round from First Round Capital, Charles River Ventures, Lerer Ventures, and others. Adaptly says all of its previous backers invested in the new round.

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