Lotame Solutions takes funding for social media advertising
Lotame is an advertising platform for social media and networks, with a targeting technology that it calls “Crowd Control”.
The company says that it is “capturing previously unavailable data based on engagement,” and feeding it back to advertisers and publishers to increase ROI. Such behavioral targeting is increasingly becoming a buzz-word as publishers look beyond traditional analytics data to find ways to monetize better.
The specific amount of funding was undisclosed, although Lotame called it a “multi-million dollar” round, led by Battery Ventures and with participation from Hillcrest Management and Betaworks. (Update:PaidContent reports that the round was probably around $10 million.) It was the first investment into the New York-based company.
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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.