Boulder ad-tech firm sovrn Holdings raises $18M funding round

BOULDER — Advertising technology firm sovrn Holdings Inc. on Wednesday afternoon announced that the company has closed an $18 million round of funding led by Boulder-based Foundry Group.

Company officials stated in a press release that the cash infusion would be used to “accelerate both organic and inorganic growth opportunities.”

In addition to Foundry Group, Oak Investment Partners, Archer Venture Acquisitions and John Battelle participated in the round.

Boulder-based sovrn provides a programmatic advertising platform that helps online publishers sell their unsold advertising inventory to ad agencies through real-time online auctions.

“We see exciting areas for growth in the ad tech market and we…