Los Angeles - Spot Runner, a Web-based advertising service that helps local businesses create ads and place them on TV and radio, announced on Wednesday that it has raised $51 million in new financing.

The new round, which brings the company's total funding raised to date to over $110 million, included participation from Daily Mail and General Trust (DMGT), Grupo Televisa, Legg Mason Capital Management, Groupe Arnault/LVMH and previous investors.

Founded in 2004, Los Angeles-based Spot Runner sells unsold ad inventory on cable TV networks and radio stations to local businesses, and provides online services to help its customers create their ads.

"These strategic investments serve as a strong validation of Spot Runner's technology-driven advertising model, as well as the results we have generated for advertisers and media owners," said Nick Grouf, chairman and CEO of Spot Runner.

"This further accelerates our momentum as we expand into a broader spectrum of online and offline media, both domestically and abroad."

Related Links:
http://snipurl.com/27qtr (PDF)

http://www.spotrunner.com