You don’t typically see Microsoft get involved in venture capital rounds. But the software giant announced today that it is joining with August Capital and Mayfield to pump $61 million into Adchemy.
As part of the deal, Adchemy also is expanding an existing technology partnership with Microsoft Advertising.
“Microsoft Advertising is committed to enriching the online ad experience for consumers and helping deliver more effective campaigns and higher ROI for advertisers and agencies. The key to this is to have a deeper understanding of consumer intent so that the ads users see are engaging and relevant,” said Rik van der Kooi, corporate vice president of the Microsoft Advertising Business Group.
Founded in 2004, Adchemyis based in Foster City, California. It is led by Murthy Nukala who sold Digital Jones to Shopping.com for $130 million. Total funding in the company, which employs 160, now stands at $116 million, according to GigaOm.
Full release here.
