New York, NY (PRWEB) August 5, 2009
TRAFFIQ®, the online advertising marketplace and management platform that enables ad buyers to plan, negotiate and buy directly from publishers, today announced it has closed a $10 million Series B round of venture funding. New investors Grotech Ventures and Greenhill SAVP join existing investor Court Square Ventures in the new round. Grotech general partner Steve Fredrick and Greenhill managing director Brian Hirsch have joined TRAFFIQ's board of directors.
"This funding supports our vision that the online ad buying process needs to change," said Mark Kahn, CEO of TRAFFIQ. "At present, many agencies and advertisers have no control over the placement of their ads, and many publishers have high-value inventory that is going unsold. The online ad world needs a platform that addresses this disconnect between agencies, advertisers and publishers. With the TRAFFIQ marketplace, we bring flexibility, customization, choice and control to the massive scalability of the Internet."
Unlike networks or exchanges, TRAFFIQ's marketplace provides buyers and sellers with a single platform that consolidates planning, RFP distribution, order execution, optimization and billing. By enabling ad buyers to post RFPs and publishers to respond directly, TRAFFIQ returns control of the media buying process to the agency/advertiser. This level of visibility and access to real-time KPIs makes it easier for them to adjust campaigns on the fly to better meet clients' goals. And, as an end-to-end solution, TRAFFIQ increases an agency/advertiser's buying power and a publisher's selling strength.
"TRAFFIQ is a true end-to-end advertising management platform," remarked Marta Martinez, senior vice president of corporate partnerships for Havas Digital, an online media giant. "It gives buyers direct access to the entire spectrum of publishers, with complete transparency, access and control over the planning, negotiating and buying processes. This platform should eliminate a lot of the friction in the current ad operations process, thus creating efficiencies and increasing transparency."
There are millions of dollars of campaign demand and billions of impressions currently available on the TRAFFIQ platform. These are provided by thousands of quality publishers and aggregators, such as WhitePages.com, Scripps Network, Shopzilla, PriceGrabber and ContextWeb.
TRAFFIQ partners with prominent national and regional agencies, including Havas Digital, IMRE, AdStrategies, Capitol Media Solutions, Pavone and Torque. These organizations, as well as leading mid-size brands such as Patio.com, Sleepy's and Brown Harris Stevens, are using the increased efficiency of TRAFFIQ to meet their advertising needs.
"TRAFFIQ is a very cost-effective way for us to gain additional visibility into the buying process," said Marci DeVries, vice president of digital at IMRE. "It allows us to spend less time researching and planning and more time executing high-quality campaigns."
The TRAFFIQ platform supports all Interactive Advertising Bureau (IAB) standard display-based digital media units. In March 2009, IAB and PricewaterhouseCoopers reported that 2008 online ad revenue totaled $23.4 billion -- up $2.2 billion, about 11 percent, from 2007. This expansion continued even in the fourth quarter and many segments showed strong growth. Forrester Research, in its recently released "U.S. Interactive Marketing Forecast," likewise projects a 17% compound annual growth rate (CAGR) for U.S. interactive marketing spending over the next five years, to nearly $55 billion in 2014.
"TRAFFIQ brings a compelling, game-changing approach to the online advertising market, allowing ad agencies and advertisers to select specific opportunities from high-quality, highly targeted inventory in real time," explained Grotech's Fredrick. "TRAFFIQ simplifies and accelerates the ad buying process and is ideally positioned to help ad agencies, advertisers and publishers increase ROI from their ad spends."
Greenhill's Hirsch added, "TRAFFIQ is not just another ad network or exchange. By automating the ad buying process, TRAFFIQ is bringing the same level of ease and efficiency to display advertising for large and small ad buyers that Google brought to search. In an environment where advertisers and publishers are trying to get more agile, TRAFFIQ is making it a reality for large and small ad buyers."
Proceeds from the financing will be used to further enhance the TRAFFIQ platform and accelerate the company's sales and marketing efforts.
TRAFFIQ (http://www.traffiq.com) is an efficient, open and value-driven marketplace, directly connecting buyers and sellers of online media through an end-to-end self-service platform. It facilitates the buying and selling of premium display media with ease and efficiency, always providing maximum return on investment. Marketplace members include the leading advertisers, ad agencies and publishers. TRAFFIQ is a member of the IAB advisory board, helping educate interactive advertisers and publishers on best practices for industry growth. TRAFFIQ is headquartered in New York City, with offices in Vienna, VA. For more information, contact us at firstname.lastname@example.org.
About Grotech Ventures:
Founded in 1984, Grotech Ventures (http://www.grotech.com) is a leading early investor in high-potential technology companies. Grotech seeks investments in communications and IT infrastructure, software and services, and Internet and digital media. The firm focuses on the Mid-Atlantic and Southeast regions and other select geographies. Grotech continues to invest and add value throughout the growth of its portfolio companies. The firm has a strong combination of financial backing, industry relationships, and deep domain and operational expertise to accelerate growth. With over $1 billion under management in its seven funds, Grotech supports early-stage companies through investments starting at $500,000.
About Greenhill SAVP:
Silicon Alley Venture Partners ("SAVP") was originally founded in 1998. In early 2006, SAVP and Greenhill & Co. combined resources to create Greenhill SAVP ("GSAVP"), a $102 million fund focused on early growth stage Technology-Enabled Services (TES) and Business Information Services (BIS) companies. GSAVP typically invests from $1 million to $8 million in companies primarily located in the Greater Tri-State Area from eastern Pennsylvania to northern Connecticut. Greenhill SAVP is an entrepreneur-centric fund, believing that great entrepreneurs and talented managers make for extraordinary success. The firm has a strong track record in identifying, recruiting, assessing and coaching talented entrepreneurs and managers, particularly in the TES/BIS sector. For more than a decade, their investment team has been investing and operating almost exclusively in these types of companies.
About Court Square Ventures:
Court Square Ventures (http://www.courtsquareventures.com) is a venture capital firm that invests in early-stage communications, information technology, and media companies, with a particular interest in enabling technologies. Court Square typically focuses on the "go to market" phase of a young company's lifecycle, where technology innovation is necessary but often insufficient for success. During this phase, and throughout the life of a company, CSV's principals apply their deep operating experience to the strategic problems and opportunities that arise. CSV invests throughout the U.S.