isocket Raises $8 Million In Series A Financing
isocket is a company that serves as a direct sales platform for premium online advertising. isocket has received $8 million in Series A financing, led by Foundry Group. Costanoa is a new investor in this round and they are joining existing investors like Tim Draper of Draper Fisher Jurvetson, Jeff Clavier (SoftTech VC), Accelerator Ventures, Quest Venture Partners, and Blumberg Capital.
Several angel investors participated in this round of funding as well. isocket now has a total investment of $11 million. Seth Levine of Foundry Group has joined the board of directors at isocket. Former Yahoo! VP of Display Advertising James Beriker is also joining the board of directors at isocket.
isocket started in 2009 and they have a goal to make it easier for publishers and advertisers to find each other and set up deals. They went live with their first solution in 2010 and followed up the next year by launching BuyAds.com. BuyAds.com is an open marketplace for self-serve buyers.
Traditionally premium advertising has been bought and sold by hand or through e-mail attachments even though premium ads are considered 75% of all online ad revenue. isocket is an early mover and is able to set up direct sales via API. Over 1,500 publishers including AOL, Reuters, and Gawker are partnered with isocket. Advertisers that work with isocket include Salesforce.com, BMW, and AppSumo.
isocket has launched a new service called BuyAds Pro. The BuyAds Pro application helps large-scale professional media buyers scale their business. BuyAds Pro offers professional advertisers with an extensive catalog of publishers and allows them to buy real estate with one click.
isocket has hired Mark Liao as their CFO. Mr. Liao used to be the VP of Business Operations and Operations Finance at Yahoo! Mr. Liao joined Yahoo! in 2004 after the company acquired Overture.@amitchowdhry or on Google+ at +AmitChowdhry