Media planning software and tech firm Balihoo announced that it raised $4 million in its Series B round of financing. Highway 12 Ventures (a division of the national Village Ventures network) led the
round, with participation from existing investor Lacuna Capital. Ballihoo's Web-based media planning software simplifies the media research, selection and request-for-proposal (RFP) processes. The
basic service is available for free, with options to upgrade to Pro and Enterprise level features. The Boise, Idaho-based company has said that it will use the Series B funds to bolster sales and
marketing efforts.
--Tameka Kee
