Digital Ad Distributor Lightningcast Secures $5 Million in Funding

Authored by Mark Hefflinger on July 7, 2004 - 6:49am.

Alexandria, Va. -- Lightningcast, a Virginia-based developer of a software platform for broadband advertising, said on Wednesday that it has raised $5 million in a new round of funding. New investors Global Internet Ventures and New Markets Growth Fund joined previous investors Nokia Venture Partners and Redleaf Group in the round. The company said that it will use the capital to accelerate product development and expand its sales organization. Lightningcast's core technology, used by major media companies, allows owners and distributors of broadband audio and video to insert streaming ads. Its clients include AOL, Disney/ABC, NPR and MTV.
http://www.lightningcast.com/articles/news8.htm