Lijit Networks raises $6 million of VC

BOULDER – Lijit Networks Inc. in Boulder closed a $6 million series D round of financing led by three Boulder venture capital firms.

The round, led by Boulder-based Foundry Group LLC, Boulder Ventures Ltd. and High Country Venture LLC., will be used to continue company operations, said Todd Vernon, Lijit’s chief executive officer. He suspects the money will last into second-quarter 2011.

This spring the company hired direct-sales personnel in New York, Chicago, San Francisco and plans to hire some in Los Angeles. Past that, Vernon said he doesn’t foresee hiring more employees in the near future.

SPONSORED CONTENT

Select your Republic Services residential cart now!

In preparation for Republic Services becoming the primary provider of residential recycling, yard trimmings, and trash, residents should now select the best cart size and service schedule for their household needs.

With the recent $6 million, Lijit has raised roughly $17 million since being founded in 2006, and will likely raise more, Vernon said.

The company provides search-powered applications for blog publishers and publishing networks.