Travel Ad Network closes Series A

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New York: Travel Ad Network (TAN), largest vertical ad network in travel, announced that it has closed a Series A round of financing. The $15 million round was led by Rho Ventures, Village Ventures and individual investors.

The minority investment enables TAN to leverage its success as a vertical ad network targeting travel advertising dollars and marketers seeking upscale consumers. Delivering 12.5 million monthly unique visitors, TAN has become a trusted partner for advertisers wishing to target travel decision makers and is ranked third by comScore in the overall travel category (which includes transaction sites) and first in travel content.

"We have emerged as the market leader by combining the strength of our publishers, the dedication of our employees and the backing of Internet travel entrepreneur, Michael Thomas. Our new growth capital strengthens our solid position in the marketplace and provides funding for expansion into new products and new markets," says Cree Lawson, TAN Founder and CEO.

Habib Kairouz, Managing Partner at Rho Ventures will join TAN's Board of Directors. Also joining the TAN Board is Rho Ventures Partner Doug McCormick, former CEO of Lifetime Networks and Chairman and CEO of iVillage, and Benjamin Wolin, the co-founder and CEO of Waterfront Media, the largest privately held online health company. TAN?s other Board members include TAN Founder and CEO Cree Lawson; Chairman Michael H. Thomas, online travel entrepreneur and investor since 1996; and COO Brian Silver, an online advertising veteran with experience at Didit Search Marketing, IAC Advertising Solutions, AskJeeves, iWon and MaxOnline.

Lawson said, "This has been a year of extraordinary growth and achievement for TAN. We surpassed Yahoo Travel generating the largest travel information audience online. We launched our first video advertising campaign and expanded our business to Canada and the UK. Our consistent policy of exclusive representation of the sites we represent is a classic 'win, win' for our customers and our publishers. Our focus on quality continues to serve us well, making us leaders in our field."

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