Online advertising network and technology provider Collective Media has announced that it has closed USD20m in growth equity financing with Accel Partners, in conjunction with iNovia Ca
Online advertising network and technology provider Collective Media has announced that it has closed USD20m in growth equity financing with Accel Partners, in conjunction with iNovia Capital.
The company will use the new funds to fuel organic growth, as well as to accelerate technology development, expand internationally and explore acquisitions.
Since its launch in 2005, Collective Media has helped Fortune 1000 brand advertisers extend their reach and target audiences. The company combines this expertise with a portfolio of technology products designed to offer advanced audience targeting, ad network management and analytics. Collective Media experienced a revenue increase of over 200 per cent and an Ebitda increase of 333 per cent for year-end 2008 over year-end 2007.
‘Accel has been a driving force in working with some of the world’s leading Internet media and technology companies, so we’re thrilled that we will be able to leverage that expertise in our aggressive growth plans,’ says Joe Apprendi, chief executive of Collective Media (pictured). ‘We are excited that our new relationship with Accel will enable our team to push forward on our current growth trajectory, while exploring a host of new options for expanding the business both domestically and abroad.’
‘As an investor that is very active in supporting online media businesses, Accel was attracted to Collective’s premium brand-oriented display advertising network,’ says Sameer Gandhi, partner, Accel Partners. ‘Beyond that, Collective has an innovative suite of technology solutions – in particular, the AMP targeting and display advertising management platform – that set them apart in the ad network space.’
Collective Media helps advertisers, publishers and agencies develop and execute ad network strategies through technology, targeting, distribution and analytics. From semantic technology and proprietary ad effectiveness reporting, Collective Media fully evaluates the efficacy of an ad. The company’s current client list comprises nearly 300 brand name advertisers and over 250 premium publishers, served from seven offices in the US.
