<?xml version="1.0" encoding="UTF-8"?><ns2:edgarSubmission xmlns:com="http://www.sec.gov/edgar/common" xmlns:ns2="http://www.sec.gov/edgar/ownership">
    <ns2:headerData>
        <ns2:submissionType>144</ns2:submissionType>
        <ns2:filerInfo>
            <ns2:filer>
                <ns2:filerCredentials>
                    <ns2:cik>0001833511</ns2:cik>
                    <ns2:ccc>XXXXXXXX</ns2:ccc>
                </ns2:filerCredentials>
            </ns2:filer>
            <ns2:liveTestFlag>LIVE</ns2:liveTestFlag>



        </ns2:filerInfo>
    </ns2:headerData>
    <ns2:formData>
        <ns2:issuerInfo>
            <ns2:issuerCik>0001422930</ns2:issuerCik>
            <ns2:issuerName>PubMatic, Inc.</ns2:issuerName>
            <ns2:secFileNumber>001-39748</ns2:secFileNumber>
            <ns2:issuerAddress>
                <com:street1>601 Marshall Street</com:street1>
                <com:city>Redwood City</com:city>
                <com:stateOrCountry>CA</com:stateOrCountry>
                <com:zipCode>94063</com:zipCode>
            </ns2:issuerAddress>
            <ns2:issuerContactPhone>1-650-331-3485</ns2:issuerContactPhone>
            <ns2:nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>Rajeev Goel</ns2:nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>
            <ns2:relationshipsToIssuer>
                <ns2:relationshipToIssuer>Officer</ns2:relationshipToIssuer>
            </ns2:relationshipsToIssuer>
        </ns2:issuerInfo>
        <ns2:securitiesInformation>
            <ns2:securitiesClassTitle>Common</ns2:securitiesClassTitle>
            <ns2:brokerOrMarketmakerDetails>
                <ns2:name>Goldman Sachs &amp; Co. LLC</ns2:name>
                <ns2:address>
                    <com:street1>200 West Street</com:street1>
                    <com:city>New York</com:city>
                    <com:stateOrCountry>NY</com:stateOrCountry>
                    <com:zipCode>10282</com:zipCode>
                </ns2:address>
            </ns2:brokerOrMarketmakerDetails>
            <ns2:noOfUnitsSold>25000</ns2:noOfUnitsSold>
            <ns2:aggregateMarketValue>477500</ns2:aggregateMarketValue>
            <ns2:noOfUnitsOutstanding>41452195</ns2:noOfUnitsOutstanding>
            <ns2:approxSaleDate>08/05/2024</ns2:approxSaleDate>
            <ns2:securitiesExchangeName>NASD</ns2:securitiesExchangeName>
        </ns2:securitiesInformation>
        <ns2:securitiesToBeSold>
            <ns2:securitiesClassTitle>Common</ns2:securitiesClassTitle>
            <ns2:acquiredDate>07/01/2024</ns2:acquiredDate>
            <ns2:natureOfAcquisitionTransaction>Acquired as compensation -- Restricted Stock Units</ns2:natureOfAcquisitionTransaction>
            <ns2:nameOfPersonfromWhomAcquired>Issuer</ns2:nameOfPersonfromWhomAcquired>
            <ns2:isGiftTransaction>N</ns2:isGiftTransaction>
            <ns2:amountOfSecuritiesAcquired>22711</ns2:amountOfSecuritiesAcquired>
            <ns2:paymentDate>07/01/2024</ns2:paymentDate>
            <ns2:natureOfPayment>Compensation</ns2:natureOfPayment>
        </ns2:securitiesToBeSold>
        <ns2:securitiesToBeSold>
            <ns2:securitiesClassTitle>Common</ns2:securitiesClassTitle>
            <ns2:acquiredDate>07/08/2016</ns2:acquiredDate>
            <ns2:natureOfAcquisitionTransaction>Acquired upon option exercise</ns2:natureOfAcquisitionTransaction>
            <ns2:nameOfPersonfromWhomAcquired>Issuer</ns2:nameOfPersonfromWhomAcquired>
            <ns2:isGiftTransaction>N</ns2:isGiftTransaction>
            <ns2:amountOfSecuritiesAcquired>2289</ns2:amountOfSecuritiesAcquired>
            <ns2:paymentDate>08/05/2024</ns2:paymentDate>
            <ns2:natureOfPayment>Option exercise</ns2:natureOfPayment>
        </ns2:securitiesToBeSold>
        <ns2:nothingToReportFlagOnSecuritiesSoldInPast3Months>N</ns2:nothingToReportFlagOnSecuritiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Goel Family Trust DTD 09/25/2012</ns2:name>
                <ns2:address>
                    <com:street1>601 Marshall Street</com:street1>
                    <com:city>Redwood City</com:city>
                    <com:stateOrCountry>CA</com:stateOrCountry>
                    <com:zipCode>94063</com:zipCode>
                </ns2:address>
            </ns2:sellerDetails>
            <ns2:securitiesClassTitle>Common</ns2:securitiesClassTitle>
            <ns2:saleDate>06/03/2024</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>25000</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>532047.5</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Goel Family Trust DTD 09/25/2012</ns2:name>
                <ns2:address>
                    <com:street1>601 Marshall Street</com:street1>
                    <com:city>Redwood City</com:city>
                    <com:stateOrCountry>CA</com:stateOrCountry>
                    <com:zipCode>94063</com:zipCode>
                </ns2:address>
            </ns2:sellerDetails>
            <ns2:securitiesClassTitle>Common</ns2:securitiesClassTitle>
            <ns2:saleDate>07/01/2024</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>25000</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>501935</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:remarks>The sales of shares set forth herein are made in connection with a selling plan dated 3/1/2024, that is intended to comply with Rule 10b5-1(c). All shares will be sold by Goel Family Trust DTD 09/25/2012.</ns2:remarks>
        <ns2:noticeSignature>
            <ns2:noticeDate>08/05/2024</ns2:noticeDate>
            <ns2:planAdoptionDates>
                <ns2:planAdoptionDate>03/01/2024</ns2:planAdoptionDate>
            </ns2:planAdoptionDates>
            <ns2:signature>Goldman Sachs &amp; Co. LLC on behalf of Rajeev Goel</ns2:signature>
        </ns2:noticeSignature>
    </ns2:formData>
</ns2:edgarSubmission>
[{"type": "144", "sequence": "1", "filename": "primary_doc.xml", "secsgml_size_bytes": 6097}]
144
0001833511
XXXXXXXX
LIVE
0001422930
PubMatic, Inc.
001-39748
601 Marshall Street
Redwood City
CA
94063
1-650-331-3485
Rajeev Goel
Officer
Common
Goldman Sachs & Co. LLC
200 West Street
New York
NY
10282
25000
477500
41452195
08/05/2024
NASD
Common
07/01/2024
Acquired as compensation -- Restricted Stock Units
Issuer
N
22711
07/01/2024
Compensation
Common
07/08/2016
Acquired upon option exercise
Issuer
N
2289
08/05/2024
Option exercise
N
Goel Family Trust DTD 09/25/2012
601 Marshall Street
Redwood City
CA
94063
Common
06/03/2024
25000
532047.5
Goel Family Trust DTD 09/25/2012
601 Marshall Street
Redwood City
CA
94063
Common
07/01/2024
25000
501935
The sales of shares set forth herein are made in connection with a selling plan dated 3/1/2024, that is intended to comply with Rule 10b5-1(c). All shares will be sold by Goel Family Trust DTD 09/25/2012.
08/05/2024
03/01/2024
Goldman Sachs & Co. LLC on behalf of Rajeev Goel