Lotame Closes $13M Funding Round

Andy Monfried of LotameLotame, a platform for targeting ads to social media audiences, today is expected to announce it has closed $13 million in series B financing.

Emergence Capital Partners led the round, along with previous investors including Battery Ventures and Hillcrest Management. The new funding will be used to support product enhancements, marketing and business development efforts, according to Andy Monfried, Lotame founder and CEO.

"This new investment from Emergence amplifies the immediate opportunity for Lotame," Monfried said. "Another important piece of this event is the addition of Emergence's Jason Green as a respected and pivotal team member to our board."

Lotame's proprietary Crowd Control technology is designed to help brands and ad agencies to direct campaigns to audiences that have demonstrated recent interest in topics relevant to the campaign.

"Lotame has demonstrated leadership and a track record of success in monetizing the biggest opportunity in online media since the advent of search advertising," said Green, general partner at Emergence Capital.

In addition to general information offered by users of social media during registration and interests implied by the sites the users visit, Lotame anonymously collects data points on users' social media participation, such as posting pictures, commenting on blogs or watching a video.

"Forty percent of Internet use is on social networks," Monfried. "This is no longer a wild frontier, and will soon be the primary use of the Internet."

Next story loading loading..