Ad.ly, a startup company dedicated to in-stream advertising, has completed a $5m round of equity funding.
The investment was led by GRP Partners, with participation from Greycroft Partners and Matt Coffin (the founder of LowerMyBills).
In conjunction with the funding, the company has also appointed Arnie Gullov-Singh as its CEO.
Ad.ly’s advertising platform enables marketers to pay influential content creators and publishers to send out targeted messages to their followers in the stream. The company employs proprietary algorithms to match advertisements to publishers based on a combination of marketer objectives, publisher content and user feedback.