McLean, Va. - Clearspring Technologies, a provider of services that help media companies and advertisers syndicate and track widgets, said on Wednesday that it has raised $18 million in its third round of funding.

Participants included New Enterprise Associates, Novak Biddle Venture Partners and other previous investors.

The Virginia-based company said that it will use the proceeds to fund the expansion of its viral marketing network, which currently serves and tracks nearly 4 billion widgets monthly.

Clearspring also is hoping to extend its reach into international markets and further develop its advertising network and data infrastructure and optimization services.

Clearspring in December launched its Widget Ad Network, which allows publishers to monetize their digital content across social networking sites, start pages and blogs by creating networks to serve ads within widgets.

Related Links:
http://www.clearspring.com/press/clearspring-secures-18million-funding