Savveo Inc., a Charlotte, N.C.-based new local advertising venture, has raised $2m in Series A funding.
– BayCrest Capital,
– Tim Biltz, chief executive of Lumos Networks;
– David Jones, CEO of Peak 10;
– Sayoko Teitelbaum, co-founder of Toura; and
– Simon Clark, senior partner at Engine UK.
The company intends to use the funding for development.
Formed in 2012 by Shafi Mustafa, CEO of Savveo and founder of OverstockAds.com, and Steve Villa, president, Savveo will open to the public later this year to give businesses and agencies a single online marketplace through which they can identify and compare advertising options across channels – including out-of-home, print, radio, television, sponsorships and non-traditional – as well as purchase and track campaigns. The company has development offices in Silicon Valley.