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Fast-growing ad network Brand.net has raised $14 million in a third round of funding. The company’s display and video ad network caters exclusively to branding-focused advertisers; eight of the top ten consumer packaged goods companies and three of the five top big-box retailers are repeat customers. It says it works only with “top comScore” sites and screens pages where ads run to ensure they aren’t showing up next to “objectionable content.”
The company’s announcement is loaded with examples of its growth; Brand.net says its revenue is more than doubling year over year and that an ad unit it recently introduced — preroll video ads — generated $1 million in sales during the first three months it was available. Brand.net also says it is opening a West Coast office for the first time and adding employees to its existing sales offices.
The round was led by Focus Ventures. Existing backers InterWest Partners and Norwest Venture Partners also participated. It brings Brand.net’s total funding to $27 million. The company last raised funding in August 2008, when it got $10 million in a second round.
Here’s the release, which has some more details.