Lotame raises $13M for customizable social media ads
Lotame, an Elk Ridge, Maryland-based advertising startup, has closed its second funding for its social media ad platform, Crowd Control. Motto, and I quote: “Every Party Needs Crowd Control!”
The company claims that its technology allows brands to tap into audiences that have proved they’re interested in certain subjects. It’s working with sites including Flixster, Fotolog, and The Huffington Post — in total, 53 million users, it claims. The company uses cookies to track anonymous user data like age and location, and what they looked at. Then, it lets an advertisers run ads to reach particular types of users through Lotame’s network.
It has only been six months since Lotame closed its first funding, a notably short period of time. Emergence Capital Partners led the $13 million investment. Also participating were previous investors Battery Ventures and Hillcrest Management.
Here’s more, from an interview by Wallstrip with founder, chief executive and Advertising.com veteran Andy Monfried.
Eric Eldon contributed to this article.
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About the Author, Chris Morrison
Chris Morrison writes about cleantech and environmental issues for VentureBeat, with occasional forays into gaming and semantic technology. He got his start writing about tech for Business 2.0 magazine, but quickly realized new media was the ticket when that institution closed its doors in 2007. Chris has also covered public equities and regulatory issues. He originally hails from southern Virginia, graduated from Evergreen State College in Washington, and now lives in San Francisco.