Spot Runner Receives $40 Million
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Why are founders Nick Grouf and David Waxman smiling?
They just raised $40 Million in their C round!
What is SpotRunner?
An online advertising agency that focuses on TV Spots.
This time it was venture funds Index Ventures and Battery Ventures, joining WPP, CBS Corp., Interpublic Group, Allen & Co. Tudor Investment Corp., Lachlan Murdoch and Vivi Nevo.
What does Strategic Investment Mean?
In this case it means that investors will also become customers, Interpublic, WPP and CBS.
Hmmm, looks like do it youself television advertising, fascinating. You can search from a library of thousands of advertisements by industry and keyword. Each advertisement you can view online and choose the one you like best. This advertisement can be modified by you and tailored to fit your needs, upload an image to add, text etc.
Create your own schedule. Where you want it to run, even down to the zip code, and target by industry. Define your budget, determine how long you want the advertisement to run, create a campaign, and your done.
The targeting capability is impressive, being able to target by industry, location and searching both by demograhics is huge. Maybe they will use some of the $40 Million to obtain behavioral data? We cannot see anything else missing. Keep an eye on this one, we will.
See their site here.
Read more about Nick Grouf here.
Read more about David Waxman here.
Read more about Battery Ventures here.
Read more about Index Ventures here.