New York - Collective Media, an online advertising network, announced on Monday that it has raised an undisclosed sum of first round funding, led by Greycroft Partners in conjunction with iNovia Capital.

Founded in 2005, New York-based Collective Media says its online ad network currently reaches 120 million unique monthly users.

The company will use the funds to enhance its proprietary ad network platform.

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http://www.collective-media.com