Venture investors may have turned their attention to earlier stage ad-tech companies at the right time now that big investments and strong IPOs could give their valuations a boost. On Monday morning, Turn announced an$80 million Series E round, which included investments by Fidelity Investments and BlackRock, in the latest sign that investors are returning to embrace the sector.
With millions flowing into ad tech, Turn Inc. has been a bit of an anomaly, not raising money for over three years and working to get cash-flow positive. But the company announced on Monday it has gotten in on the current funding frenzy, raising an $80 million Series E round led by “two of the world’s largest investing firms” that likely values the company at almost $700 million and keeps it on track to look at going public in about a year.