Online Ad Network Collective Media Raises $20 Million

Authored by Mark Hefflinger on April 13, 2009 - 7:31am.

New York - Collective Media, the provider of an online ad network, announced on Monday that it has closed a $20 million second round of funding, led by Accel Partners with participated from iNovia Capital.

Launched in 2005, New York-based Collective Media operates an online ad network utilized by nearly 300 advertisers and over 250 publishers.

The company said its revenues were up over 200%, and earnings rose 333% in 2008.

Collective Media will use the funds to accelerate technology development, expand internationally and explore acquisitions.

Related Links:
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http://www.collective.com