Advertising network company TRAFFIQ announced a second round of funding at $10 million. The funding was provided by Grotech Ventures, Greenhill SAVP, and Court Square Ventures. TRAFFIQ, based in New York, previously raised $7 million giving them a total of $17 million.
As part of this round of funding Grotech general partner Steve Fredrick and Greenhill MD Brian Hirsch will be joining the TRAFFIQ board of directors.
?This funding supports our vision that the online ad buying process needs to change,? stated TRAFFIQ CEO Mark Kahn. ?At present, many agencies and advertisers have no control over the placement of their ads, and many publishers have high-value inventory that is going unsold. The online ad world needs a platform that addresses this disconnect between agencies, advertisers and publishers. With the TRAFFIQ marketplace, we bring flexibility, customization, choice and control to the massive scalability of the Internet.?
TRAFFIQ allows advertising buyers to negotiate the purchase of inventory from publishers such as Scripps, Shopzilla, and WhitePages.com. TRAFFIQ plans to use the funding to build upon TRAFFIQ”s platform and accelerate sales and marketing.