ELKRIDGE, MD – Lotame, a company develping web tools to help advertisers target social network audiences, has raised a $13 million B round led by California-based Emergence Capital Partners.
Current investors Battery Ventures and Hillcrest Management participated in the round.
The company says the new funding will be used to support product enhancements, marketing and business development efforts.
“Lotame has demonstrated leadership and a track record of success in monetizing the biggest opportunity in online media since the advent of search advertising,” said Jason Green, general partner at Emergence Capital.
“Lotame is producing unparalleled results and insight for publishers and advertisers by leveraging a unique targeting platform that translates social media inventory into valuable real estate that brand advertisers love.
“With dozens of blue chip advertising clients and a growing publisher network reaching tens of millions users today, Lotame is clearly the company to beat in the space.”
Emergence’s Jason Green joins the Lotame board.
Lotame CEO and founder Andrea Monfried said, “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.”
Lotame’s proprietary Crowd Control technology enables brands and advertising agencies to direct campaigns to audiences that have demonstrated recent interest in topics relevant to the campaign.
“Forty percent of Internet use is on social networks. This is no longer a wild frontier, and will soon be the primary use of the Internet,” Monfried said.
On the Web: www.lotame.com
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