Local online ad tech provider PaperG has raised $1.1 million in its second funding round, the company’s CEO Victor Wong told paidContent. Launch Capital led the round. Among the other participants in the funding were AppNexus CEO Brian O’Kelley, former Boston.com publisher Steve Taylor, and Recovering Journalist’s Mark Potts, among others. New Haven-based PaperG plans to add to the roughly half-dozen staffers it currently employs.
The two-year-old company will also use the proceeds to build up its two ad platforms. One of those platforms is Flyerboard, which is a kind of virtual bulletin board where individuals and businesses can post messages. PaperG is currently working on another ad platform, PlaceLocal, which will provide self-serve rich media display units.
The company was started in March 2007 by Wong, who was then 20-years-old, along with fellow Yale students as well as some from Harvard. He raised a small first round from family, friends and angel investors. PaperG moved into the Yale Entrepreneurial Institute incubation space last year to complete this second round.
In addition to attracting some high profile investors, PaperG (stands for “Paper Generation,” a process the company is inclined to displace) has also been hired by a number of major media company’s to provide some local ad assistance. Some of its recent partners include Hearst Newspapers, Boston.com, Newsday.com, and mtvU.