iSocket, a San Francisco, CA-based direct sales platform for online ads, raised $5m in new funding.
The round was led by Time Warner Investments with participation from Condé Nast, R&R Venture Partners (a new fund created by Dick Parsons, former chairman and CEO of Time Warner and Ronald Lauder) and Vivi Nevo.
The company intends to use the funds for polishing iFA and iFP and expanding capabilities to work with more partners on buy, channel, and supply side.
Led by Richard Jalichandra, CEO, iSocket provides a technology platform to simplify the buying and selling of fixed price, premium, reserved inventory. iSocket For Publishers (iFP) sales automation and programmatic direct tools allow top publisher sales teams to focus on relationships and strategy, while iSocket For Advertisers (iFA) allows agencies, brands, and buying and planning platforms to execute orders of inventory directly with publishers.
The company has appointed Microsoft executive Kevin McCabe has joined as VP of Business Development, who will be focusing on channel partnerships in the coming months.
It is hiring in SF and NYC.