Lotame Raises $13M in Series B
ADOTAS – Social network ad targeter Lotame just closed a $13 million round of series B financing, the company said. Emergence Capital Partners led the round with continuing participation from previous investors including Battery Ventures and Hillcrest Management. The influx of cash will be used to pimp out its current product line-up; in marketing and biz development efforts and to help handle the growing demand for Lotame’s targeted social media ad tech solutions.
“This new investment from Emergence amplifies the immediate opportunity for Lotame given the firm’s investment leadership and acumen in the digital advertising marketplace,” said Andrew Monfried, CEO and founder, Lotame. “Another important piece of this event is the addition of Emergence’s Jason Green as a respected and pivotal team member to our board. His deep expertise and understanding of how to achieve our goals, having helped companies such as Ask.com, DoubleClick and Avenue A grow from early stage companies to prominent icons of digital advertising, is extremely valuable to Lotame at this time.”
The company’s premier product, Crowd Control, is a targeting toll that the company is marketing to advertisers and agencies. It’s designed to enable brands and agencies to target audiences that have demonstrated recent interest in topics relevant to the campaign.
In addition to general information offered by users of social media during registration and interests implied by the sites the users visit, Lotame anonymously collects data points on users’ social media participation – such as posting pictures, commenting on blogs or watching a video. The product capitalizes on the fact that 40% of Internet use is on social networks, the company said.
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