The move follows a number of senior hires towards the end of 2009, and an additional $9m investment from GE/NBC Universal's Peacock Equity Fund in September – to add to the $33m already injected into the business since it was founded in 2007.
In a statement, Rubicon Project said: "Allen & Company will work with the company, among other matters, to explore options for ongoing business growth initiatives, including additional strategic acquisitions, platform expansion and continued international growth."
Jay Stevens, the firm's vice-president and general manager for international, and former MySpace UK executive, the GE/NBC cash injection would be used for "acquisitions and new technologies".
The retention of Allen & Co is expected to accelerate the company's expansion.
The Rubicon Project made the announcement alongside the launch of a company manifesto ‘Principles of a REVVolution - the ad server is dead', which details its new "publisher-centric digital advertising technology and data platform".
Rubicon's chief executive and founder, Frank Addante, said: "Ad-serving technologies currently available to publishers of high-quality digital content are outdated, making it extremely difficult to effectively manage today's sales organizations.
"Revising that legacy technology, upgrading it, and tacking on bells and whistles isn't enough: publishers need technology designed specifically to meet their needs."
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