Baltimore - New Enterprise Associates (NEA), the Baltimore-based venture capital firm focused on technology and life sciences, said on Monday that it has invested $10.5 million in Chicago-based MediaBank, the developer of a technology and services platform for media buying agencies and advertisers.

Peter Barris, NEA's managing general partner, will join the company's board of directors.

MediaBank said that it expects to begin offering its services to large advertising agencies in early 2008, and roll them out to smaller agencies later in the year.

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