In the money

Online ad network Collective Media has closed $20 million in growth equity Series B financing from Accel Partners, whose previous financial recipients include Facebook, Glam Media, Admob and Trulia.

The company says funding will be used to help the company make acquisitions, expand internationally and develop new technology.

Partner Sameer Gandhi of Accel said Collective's AMP targeting and display ad management platform sets the company apart in its arena. AMP 2.0, which launched in September of last year, enables online publishers to create proprietary branded networks and evaluate ad performance across audiences based on demographic, geographic, behavioral or contextual criteria.

Over the course of 2008, Collective Media increased revenue 200% — and EBITDA over 333%. It currently has seven US offices and claims to serve nearly 300 brand advertisers.

In 2007, Collective raised an unspecified amount of Series A funding. The round was led by Greycroft Partners in conjunction with iNovia. At the time, Collective's online network served 120 million uniques per month.