Business Audience Marketing Company Bizo Raises $10M

Bizo, a company offering technology to help advertisers reach a business audience, has raised $10 million in a Series B round of funding.

The company has now raised a total of $20 million. Crosslink Capital led the round, and the firm’s newest partner David Silverman is joining Bizo’s board of directors. Existing investors Bessemer Venture Partners and Venrock also participated.

Bizo’s ad platform includes ad targeting and audience analytics, and it uses that platform to sell both brand display and direct response ads. CEO Russell Glass says Bizo now reaches 80 percent of the business audience in the United States, whether they’re making purchase decisions in the office or at home.

At the end of last year, Bizo claims it reached an annual revenue run rate of $18 million. It also says that there are more than 400 leading brands using its technology, and that new publisher partners include Forbes, Crains B2B, PC World, and Thomson Reuters.

Bizo has been working on new technologies too, Glass says, for example by investing social marketing and video tools. However, one area that it hasn’t emphasized is mobile. Glass says the ad spending just isn’t there yet, though “we know it’s coming.”

He adds that as the company expands, “Bizo’s focus remains on helping marketers more effectively reach business professionals.”

The company spun off from ZoomInfo.