Jim McKelvey’s startup Invisibly raises $20 million

Clayton-based startup Invisibly, the latest project for entrepreneur Jim McKelvey, has raised $20.2 million in funding, according to a pair of filings this week with the Securities and Exchange Commission.

McKelvey, a St. Louis native and co-founder of payments company Square, is also the founder of Invisibly, an ad network for publishers.

The first of Invisibly’s two filings this week, submitted Tuesday, disclosed $10 million of equity sold to six investors. The second, filed Wednesday, reported $10.2 million raised from four investors.

Invisibly is working with publishers and advertisers to improve advertising technology, according to its website, and create “a world where quality content creation is properly rewarded.” The company hopes to do that by letting internet users “pay” for online content either by agreeing to view targeted ads or by making micropayments for content they access, McKelvey told the St. Louis Post-Dispatch last year.

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