What: iSocket has raised US $5 million round led by Time Warner.
Why it matters: Advertising Sales (and buying) automation platforms are in demand. Companies like iSocket help agencies and publishers automate much of the process.
Online ads seller iSocket has raised US $5 million in new funding. The round was led by Time Warner Investments, with Condé Nast, R&R Venture Partners and investor Vivi Nevo contribution.
The company is launching iSocket for Advertisers, an ad-buying tool for agencies and brands.
Online advertising sales and purchases can require up to 50 steps to complete, iSocket helps publishers to automate much of the process. In addition to the funding, the company is launching iSocket for Advertisers, an ad-buying tool for agencies and brands. iSocket will also hire Kevin McCabe, a former ad executive at Microsoft, as vice president of business development.
“We’re very pleased to have Time Warner and Condé Nast, two of the biggest names in publishing, endorsing our model for advertising sales automation,” said CEO Richard Jalichandra in the funding release.