Streaming Audio Ad Firm TargetSpot Secures $8.6 Million

Authored by Mark Hefflinger on March 11, 2008 - 9:20am.

New York, N.Y. - TargetSpot, a New York-based advertising marketplace specifically designed for streaming audio, has raised $8.6 million in its second round of venture capital, led by Bain Capital Ventures.

Other investors in the deal include Union Square Ventures, CBS Corp. (NYSE: CBS) and Milestone Venture Partners.

TargetSpot's online ad platform allows advertisers to create, buy and place advertising messages on hundreds of Internet radio stations, including CBS Radio, Entercom Communications Corp, and Beasley Broadcasting, as well as Web-only streaming sites.

The company was founded in 2007.