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Turn Reels in $15M

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Aug 21, 2008 

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Kathleen  |

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Turn Reels in $15M

ADOTAS – Online ad network Turn Inc. just closed a $15 million round in private equity financing. It was led by Focus Ventures with Norwest Venture Partners, Trident Capital and Shasta Ventures participating. This latest round infuses the company’s coffers with about $37 million worth of funding.

Turn will use the funds to scale its market development, create new products and expand its team in the sales and client services arena.

Since March of this year, Turn has witnessed a serious period of growth: it has leapfrogged 11 positions in comScore’s Top Ad Network ranking, to number 16 from 27. Its monthly uniques have increased more than 100% to 93 million and ad impressions spiked 250% to 1.9 billion in July.

Turn employs machine-learning technology to combine automatic targeting and goal-driven pricing for more than 500 premium advertisers and 3,000 publisher sites.

Tags: finance, Focus-Ventures, funding, internet-marketing-advertising, Norwest-Venture-Partners, online-advertising-networks, private-equity-financing, revenue, Shasta-Ventures, Trident-Capital and Turn-Inc.

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