BlueLithium Inc., a San Jose, CA-based Web site advertising network has completed raising $11.5 million in venture capital financing that it plans to use for expanding in the United Kingdom and elsewhere. Two venture capital firms Walden VAC and 3i organized the investment.
As part of the financing deal, Rich LeFurgy, a venture capital partner at Walden VC and co-founder of the Internet Advertising Bureau, will join BlueLithium's board of directors. Steve Eskenazi, a general partner at Walden VC will also become a director at BlueLithium.
David Silverman, a partner with 3i, will also join the board of directors at BlueLithium.
Founded in 2004, this Silicon Valley firm presently operates more than 1,000 sites and delivers several billion online advertising impressions per month. As of the end of last year BlueLithium reported it had reached more 100 million unique users worldwide.
