Turn.com Raises $15 Million & Launches Smart Market
â€œTurn has achieved the critical mass that our unique technology needs in order to ensure market leading performance. Weâ€™re now ready to scale our market with an even broader group of advertisers and publishers.â€
-Jim Barnett, CEO of Turn
Redwood City, Calif.-based ad network company, Turn Inc. recently raised $15 million in second round funding. The investors include Norwest Venture Partners, Trident Capital, and Shasta Ventures. About 3 years ago, Turn raised $8.5 million. This news complements the launch of Turn.com’s Smart Market feature, an automated online advertising service for publishers and advertisers.
â€œTodayâ€™s announcement of the Turn Smart Market demonstrates that the underlying technologies driving Turnâ€”automatic targeting, machine learning, and goal-driven auction pricingâ€”are rock solid,â€ stated Jim Barnett, the CEO of Turn. â€œTurn has achieved the critical mass that our unique technology needs in order to ensure market leading performance. Weâ€™re now ready to scale our market with an even broader group of advertisers and publishers.â€
Barnett is a former CEO of search engine, AltaVista.Â Advertiser clients of Turn include CapitalOne, Classmates, Comcast, DeVry, eHarmony, FTD, Geico, Motorola, Netflix, Quicken, Staples, and T-Mobile. Turn was founded in 2005 by Jim Barnett and John Ellis.
[Information Source: Turn Inc. press release via Yahoo!]This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry