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Balihoo Gathers $4 Mn For Media Planning Software
By siliconindia
Idaho: Balihoo, a provider of web-based media planning software has announced that it has raised $4 million in its Series B round of funding.
Highway 12 Ventures led the round with participation from existing investor Lacuna Capital. The funds raised will be used to augment their sales and marketing efforts targeting the media buying and planning community.
"Our Beta Program, which recently ended and included 8 of the top 10 media buying companies in North America, helped us refine Balihoo and identify areas for future development. The product is ready to go and we are excited to get the commercial version into the hands of our customers," said Pete Gombert, Founder and CEO of Balihoo.
Balihoo helps media firms make better decisions faster and create more effective media plans by helping them easily find, gather, analyze and share data. Its software reduces the administrative workload on media buyers and planners, freeing them up to focus more on the overall strategy of the media plan.
"It's hard to think of a bigger pain point for media buyers and planners given the colossal fragmentation of advertising opportunities," said Mark Solon, managing partner of Highway 12 Ventures.
"We were particularly struck by the companys ability to provide an elegant solution to this problem and believe Balihoo has the potential to be on the desktop of every professional media buyer and planner worldwide," added Solon.