Woodland Hills, Calif. - FatTail, a provider of online advertising optimization software, announced on Wednesday that it has raised $3 million in its first round of venture capital, led by Velocity Interactive Group.

Former Overture CEO Ted Meisel and others also participated in the round, proceeds from which will go towards product development, and sales and marketing.

Founded in 2001, Woodland Hills, Calif.-based FatTail developed AdBook, a yield and process management software for digital advertising that is used by more than 500 Web publishers.

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