DURHAM – Sift Media, launched by serial entrepreneur Jud Bowman, has raised $1,5 million in new funding
According to an SEC filing published Monday, Sift has closed on the funds from 10 investors. Minimum investment was just under $10,000.
The funding is in debt.
Bowman signed the filing.
Bowman launched Sift Media in 2015 after selling his company Appia to Digital Turbine.
Sift Media says it “operates at the intersection of mobile and big data. We sift through more than 1 trillion mobile ad requests each month which are auctioned on the RTB [real-time bidding] exchanges from more than 2 billion smartphone users globally. Sift Media’s platform is built for this massive scale.”
Sift raised just more than $4 million in 2016.
In some ways, the story of Sift Media is much like that of founder Jud Bowman’s last company Appia.
It was profitable in February 2017 with just four employees, according to a media report at the time.