High Quality Content by WIKIPEDIA articles! NebuAd was an American online advertising company based in Redwood City, California, with offices in New York and London and was funded by the investment companies Sierra Ventures and Menlo Ventures. It was one of several companies developing behavioral targeting advertising systems, seeking deals with ISPs to enable them to analyse customer`s websurfing habits in order to provide them with more relevant, micro-targeted advertising.Phorm is a similar company operating out of Europe. Adzilla and Project Rialto also appear to be developing similar systems.