Balihoo, a service that looks to help national brands efficiently market themselves at the regional level, has closed a $7 million funding round led by OpenView Venture Partners, with existing investors Highway 12 Ventures and Lacuna Gap Capital also participating. The new round brings Balihoo’s total funding to over $12.5 million since getting started in 2006.
Balihoo is a service that allows national brands to automate local marketing efforts — campaigns that have tradionally been run by franchises and affiliates. This setup can lead to a lack of consistency in branding between different regions, as well as excessive costs as regional franchises effectively have to remake the same advertisements.
To help streamline these efforts, Balihoo offers an ad builder than can generate advertising for various types of media, and tools for ad fulfillment and planning, among other things. National brands can manage these efforts, granting access to their local affiliates to keep them in the loop. Balihoo says that these can help reduce overall marketing costs and improve brand recognition by increasing consistency.