FatTail, maker of software that helps online publishers determine which combination of ads will bring in the most money, just nabbed $3.5 million of its own in first-round funding from Velocity Interactive, Ted Meisel, former chief executive at Overture and president of Yahoo Search Marketing, Jonathan Miller, former chief executive at AOL, and Ross Levinsohn, president at Fox Interactive Media.

In addition to optimizing advertising on sites, the Woodland Hills, Calif.-based company also automates the request for proposal (RFP) process — a stumbling block in many deals that has always required a lot of manual back and forth between advertisers, agencies and publishers. It provides these services through its AdBook product, a back-office system based largely on Microsoft technology, reports MediaPost.

The investors were attracted by FatTail’s already impressive client base (totaling 500), which includes WebMD, Bloomberg and Orbitz, among other big names, according to TechCrunch. The service could come in handy as a digital consultant to steer smaller publishers through tough times.

VentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative enterprise technology and transact. Discover our Briefings.