Online Media Planner Balihoo Raises $4 Million Second Round

Online media planning software provider Balihoo has raised a $4 million second round. Highway 12 Ventures led the round with previous backer Lacuna Capital also participating. Lacuna led Balihoo’s $1.5 million first round, which was completed in October 2006 and announced last summer. The Boise, Idaho-based company will use the funds to build up its sales and marketing teams. Balihoo wants to raise its profile among media buying and planning agencies following a beta test; it claims that eight of the top 10 media buying agencies took part in the beta. Release

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