Turn is an advertising technology company that has raised $80 million in funding. This will help the company delay their IPO for now. Turn plans to use the funding to invest in their data platform, which provides real-time information about over a million ads per second. Turn works with brands, agencies, and digital trading desks.
Some of the brands that they work with include Toyota, Chrysler, AMNET, and Microsoft. Turn has access to over 1.3 billion anonymous user profiles for ad targeting. Turn has raised $135 million in venture capital in total. Turn was projected to hit $500 million in revenues this year. Turn is profitable based on accounting practices that does not include certain expenses.
Existing investors Norwest Venture Partners, Trident Capital, Shasta Ventures, and Focus Ventures participated in this round. New investors that participated in this round include ClearBridge Investments, Firsthand Technology Value Fund, Northport Investments, and Pine River Capital Management.