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Location-Based Ad Net 1020 Placecast Raises $5 Million Second Round

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1020 Placecast, a location-based ad network and platform, has raised $5 million in a second round of funding. New investor Quatrex Capital joined for this round, with participation from previous backers Onset Ventures and Voyager Capital. 1020 will use the money to continue building out its location-based ad targeting technology.

1020 uses a combination of location info — including GPS markers, search keywords and specific sites people have visited — to come up with tailored ads. The S.F.-based company’s network includes over 250 publishers; it offers display, email and mobile ads, including banners targeted to a browser when someone is using hotel or airport WIFI.

1020 partnered with Alacatel-Lucent earlier this year to launch a carrier-based opt-in mobile ad service in North America. (A user that searches for info on an upcoming marathon while walking near a Niketown store, for example, would get a Niketown banner ad served to their iPhone). The company was founded in 2005 by JiWire exec Anne Bezancon and Daniel Parkes; former Exponential Interactive VP Alistair Goodman serves as CEO.