See update below: Here’s another ad network getting funded: BiggerBoat, an ad net for online entertainment properties, has raised a $2 million from Draper Associates, reports socalTech.com. The Beverly Hills-based company claims to reach 15 million users through such sites Billboard.com, Allmusic, and through other social networking services, like Flixster. The company will sell CPM-based ads against various types of content (text, video, etc.) so long as its entertainment focused. The company was co-founded in 2003 by CEO Adam Lilling, who previously founded Pazanga.
Update: The company let us know that the $2 million reported was part of a larger first round that now totals $5 million. Backers include Zone Ventures, Draper Associates, First Round Capital. Also, the company is moving away from their pure entertainment focus to one centered on helping TV networks target online audiences.