San Francisco - WideOrbit, a provider of advertising management software and services, announced on Tuesday that it has raised $10 million in new financing, led by Mayfield Fund.

Other investors included previous backers Khosla Ventures, Greycroft Partners and the Hearst Corporation.

Founded in 1999, San Francisco-based WideOrbit's software is used by more than 1,200 television stations, radio stations and cable networks. It is also used to manage advertising for movie theaters, mobile devices and digital display networks.

The company's clients include Gannett, Hearst, NBC, Qualcomm/MediaFLO and Madison Square Garden.

WideOrbit will use the funds to more aggressively invest in new products and services for its clients.

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