Travel Ad Network Gets $15 Infusion
ADOTAS – The Travel Ad Network has raised $15 million in a Series A round of financing, the company announced today. Rho Ventures, Village Ventures and individual investors provided the influx, which will be used to grow its product lineup and expand into new markets.
The vertical ad network targets travel advertising dollars and marketers seeking upscale consumers; it delivers 12.5 million unique visitors per month.
“We’ve emerged as the market leader by combining the strength of our publishers, the dedication of our employees and the backing of Internet travel entrepreneur, Michael Thomas. Our new growth capital strengthens our solid position in the marketplace and provides funding for expansion into new products and new markets,” Cree Lawson, TAN Founder and CEO, said in a release. “Rho Ventures, Village Ventures and our other investors bring to our Boardroom world class expertise in such disciplines as branded media, network development, behavioral targeting and online advertising as witnessed by their successful investments in iVillage, TACODA, Waterfront Media, ReachLocal and a host of other very successful companies.”
This year, TAN launched its first video advertising campaign; grew its business in Canada and the U.K and surpassed Yahoo Travel to generate the largest online travel information audience online.
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