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Widget Company Clearspring Raises $18 Million
Widget Company Clearspring Raises $18 Million
Widget syndicator Clearspring Technologies has closed financing of $18 million in a third round of funding from New Enterprise Associates, Novak Biddle Venture Partners and other investors.
The McLean, Va.-based company also announced that New Enterprise Partner Harry Weller and Capital One co-founder Nigel Morris have joined former AOL heavyweights Ted Leonsis, Steve Case and Miles Gilburne on its board of directors. Clearspring has raised a total of $35 million in venture capital to date.
With the fresh cash infusion, the company plans to expand its widget advertising products and further develop its ad network that spans more than 80 social networking and other sites including MySpace, Facebook and Blogger.
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