Online media buying platform company Centro has raised $22.5 million from investment firm FTV Capital in what apparently is the ten-year-old company’s first outside funding. Centro, which is led by online ad veteran Shawn Riegsecker, says it will use the influx of cash to invest in its relatively new Transis media buying software and also to build up its sales force.
In March, Centro launched Transis, which it has aggressively been promoting since as a way for media buyers to sharply cut back on redundant tasks associated with buying display ads. So far, the company says the software has been adopted by more than 50 agencies, including Crispin Porter + Bogusky and McKinney.
The company had previously been best known as a go between for media agencies and newspapers (It purchased local newspaper online rep firm Real Cities from McClatchy (NYSE: MNI) in August 2008). All in all, Centro says it counts more than 1,100 advertisers and 350 agencies among its customers. Some more details in this release.

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