TargetSpot, a New York-based digital audio advertising network, has closed $8m in equity financing.
Investors include Union Square Ventures, Bain Capital Ventures, CBS Radio and Milestone Venture Partners.
The company intends to use the funds to invest in its advertising technology, expand its network, and grow its national sales force.
Led by CEO Eyal Goldwerger, TargetSpot is designed to help top national brands, and regional and local advertisers connect with Internet and mobile audiences. Advertisers can use TargetSpot’s self-service advertising platform or work with TargetSpot’s full-service account management team to create rich media campaigns delivering audio and video advertising across thousands of web sites.
TargetSpot enables advertisers to target consumers by geography, listening preferences and demographics, and benefit from real time reporting and analytics.
Distribution partners include CBS RADIO, AOL Radio, Entercom, Live 365, Yahoo! Music, and MySpace Music.