WebProNews

If we’re heading towards (or already in) a recession, it isn’t yet hurting online advertising much - AdBrite, which specializes in that field, just received $23 million in funding.

It wasn’t a lone wolf investor who ponied up the amount, either - hugely important Sequoia Capital joined in the Series C round, and DAG Ventures and Mitsui Ventures appear to have put in a few dollars, as well.  Sequoia alone, having backed Apple, Google, and Yahoo in the past, would be enough to turn heads.

So we’ll buy the explanation of Ignacio Fanlo, AdBrite’s CEO, who stated, “A steady succession of product innovations - including BritePic, Full Page Ad, and our new Facebook App Channel - have fueled AdBrite’s rapid growth.” It’s also quite believable that “[t]his additional funding . . . will help accelerate our expansion.”

Fanlo didn’t name any specific ways in which the company will expand, but it’s already added Peter Sealey, a former Coca-Cola exec, to its board of directors.  This may help it buddy up to the soda giant, and AdBrite is likely to seek new clients, regardless.

The company proudly noted that only Google and Advertising.com are ahead of it in terms of page views, so it would seem that a sort of race is on.  Last one to get sucked down by a floundering economy wins!