Jelli Raises $21 Million From Universal Music, iHeartMedia, Others

Jelli, an audio advertising platform has closed a $21 million Series B round of financing.  Investors included Relay Ventures, Intel Capital, First Round Capital, iHeartMedia and Universal Music Group.

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Jelli  today announced that it has closed a $21 million Series B financing. Investors included Relay Ventures, Intel Capital, First Round Capital, iHeartMedia and Universal Music Group. This funding brings the total amount raised to $37.6 million.

In April, Jelli was selected as the technology partner to power programmatic and automated ad buying for iHeartMedia's 858 radio stations, and for Expressway from Katz, an industry wide programmatic buying ad exchange for broadcast radio.

"Programmatic advertising is surging across the entire advertising landscape, and by powering  iHeartMedia and Katz Media Group’s networks, we are enabling broadcast radio to participate and make buying an audio ad as easy as buying a digital ad,” said Mike Dougherty, Chief Executive Officer of Jelli.