Local Ad Specialist Pica9 Secures $2.8 Million In Angel Round, Names Lead Investor COO

New York-based branding company Pica9 Inc. has received $2.8 million in angel funding, The Deal reports. Founded in 1999, the company, which says it was profitable six months after launch, focuses on working with large marketers interested in local online advertising. Kevin Groome, president and CEO of Pica9, said he opted for angel funding over VC for speed and simplicity: “The length of due diligence and prospects of outside, and relatively uninformed control, of the business was not something I was comfortable with at all.” But he also says he’ll probably look for VC funding later. The company’s lead angel investor, John Buckner, joined the company as COO.

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