Online advertising marketplace TRAFFIQ today announced it has closed a $10 million Series B round of venture funding from Grotech Ventures, Greenhill SAVP and Court Square Ventures.
The New York-based company, which operates a management platform designed to connect buyers and sellers of online media, had previously raised $7 million from the latter investor and says the extra capital will be primarily used to enhance its TRAFFIQ platform and accelerate the company’s sales and marketing efforts.
TRAFFIQ positions itself as different from ad networks or exchanges, in the sense that they offer an end-to-end platform that is capable of consolidating planning, RFP distribution, order execution, optimization and billing. Its solution is targeted primarily to larger ad agencies like Havas Digital, IMRE and AdStrategies and publishers like WhitePages.com, Scripps Network and ContextWeb. The service also boasts the inclusiong of reporting and free ad serving tools, as well as integration with common third-party ad-serving technologies like Atlas and DoubleClick’s DART.
The company claims “millions of dollars of campaign demand and billions of impressions” are currently available on its TRAFFIQ platform, although it didn’t go into specifics.