London - Openads, the developer of a free, open-source ad server for online publishers, announced on Wednesday that it has raised $5 million in its first round of financing, led by Index Ventures.

First Round Capital, Mangrove Capital Partners and O'Reilly AlphaTech Ventures also participated.

London-based Openads was recently spun-off from U.K. digital advertising firm Unanimis, and now provides more than 20,000 publishers across 140 countries with free tools to create their own targeted ad campaigns.

The company will use the funds to accelerate product development and expand its staff.

Related Links:
http://www.prweb.com/releases/IndexVentures/OpenAds/prweb532988.htm

http://www.openads.com