Digital Mall Advertising Network Adspace Raises $20 Million

Authored by Mark Hefflinger on August 1, 2007 - 10:33am.

New York - Adspace Networks, the operator of a shopping mall-based digital advertising network, has raised $20 million in its fifth round of financing, co-led by The Walnut Group and The Hauser, Davis & Tysoe Group, PEHub.com reported.

Previous investors AIG, Steelpoint Capital, DCM and GIC Investments also participated.

Founded in 1998, New York-based Adspace said its network will include 100 shopping malls by the end of 2007, and currently reaches an estimated 65 million mall visitors.

http://www.adspacenetworks.com