News Brief

Hiwire Gets $9.5 Million in Financing

Hiwire, Inc., the provider of advertising solutions for streaming media, have received $9.5 million in financing from New Enterprise Associates, Zone Ventures, Grey Ventures (a subsidiary of Grey Global) and Clear Channel Communications. According to company officials, the funding will allow Hiwire to improve its ad insertion technology, support new media partners in the ad delivery network (which includes more than 250 Clear Channel radio properties in the top 50 U.S. markets), and expand its ad sales force. Hiwire has raised a total of $18 million in previous rounds.