Undertone Networks Takes Investment From JMI Equity

Online ad network Undertone Networks has received a strategic investment from JMI Equity; no financials disclosed.

Brad Woloson, a general partner at JMI will join Undertone’s board of directors. ORIX Venture Finance and Jordan, Edmiston Group helped patch the deal together. Undertone, a unit of Intercept Interactive. Undertone said it would use the funds “to accelerate new product development and research, and further expand its presence in both U.S. and international markets.”

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