One day after AdKeeper and [x+1] announced new funding rounds, four more digital ad firms have followed suit. Chicago-based Centro has secured $22.5 million to further develop its media buying products. Demand-side platform Turn raised $20 million. "Social targeting" startup 33Across closed on $9 million. And social media consultancy Dachis Group reeled in $30 million.
With the deals, total ad tech funding in the first three business days of 2011 reached $126.5 million. Of course that doesn't take into account Goldman Sachs' enormous new stake in Facebook, or Groupon's attempt to raise $950 million.
Turn's $20 million in funding was led by Greenspring Associates, with involvement from previous investors Norwest Venture Partners, Trident Capital, Shasta Ventures, and Focus Ventures. In a statement, CEO Bill Demas said the DSP has doubled revenues in the past year. He said the money will fuel Turn's scalability and international growth.
33Across will use its investment to develop its social affinity-driven targeting platform. The cash infusion was led by Flybridge Capital Partners with involvement from First Round Capital and QED Investors.
Centro will use its $22.5 million from FTV Capital not only to develop its ad buying software, but also to expand its sales force geared toward mid-tier agencies and advertisers. The company has 18 offices in the U.S.
And Dachis Group secured its $30 million in the wake of two significant acquisitions. In November it purchased Archrival - one of Facebook's 14 original "preferred developers." Then in December it bought Powered and its subsidiaries StepChange Group, Drillteam, and Crayon. Dachis now employs 220 consultants in five countries: the U.S., the U.K., Spain, Australia, and the Netherlands.
Will the new financing, led by Austin Ventures, fuel more consolidation in social marketing services? Time will tell.
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Until March 2012, Zach Rodgers was managing editor of ClickZ's award-winning coverage of news and trends in digital marketing. He reported on the rise of web companies, data markets, ad technologies, and government Internet policy, among other subjects.
March 19, 2014