The holiday season proved bountiful for Lotame, as the company closed new funding of $11 million in early December. The funding will help to build a platform sales group to address publisher demand for data.
Lotame CEO Andy Monfried said the cash will help deliver optimal service to clients through Crowd Control.
“When it comes to selecting a platform, big publishers can’t afford to wait, and we believe Crowd Control is perfectly positioned as the premiere audience data-management platform,” said Lotame CEO Andy Monfried.
“Bruce Budkofsky, Eric Porres and Andrew Bradway bring the drive and experience needed to help those publishers create, manage and sell audience profiles – enabling those publishers to drive better monetization and intelligence for their organizations,” he said.
The funding means Lotame can now fully transition to a business with two distinct arms: a fully functional Crowd Control Platform Team and offering and the Lotame Media Group, a well-resourced media team and offering.
Monfried said the Lotame Media Group will be the “leading customer” of the platform, using it in combination with proven delivery, optimization and analytics functions.
“We believe the only way to understand the true value of data is to actually use it,” he said. “Our ongoing experience in campaign delivery and optimization will inform the market-leading features, analytics and data packages we build into our platform. Our platform will serve as the ongoing foundation for our advertising solutions.”
Bryan Seltzer, VP Advertising Sales and Client Services, said he has already experienced the benefits of fusion between Lotame Media Group and the Crowd Control Platform Team.
“Working with the Platform team allows my group to offer our advertising clients a more robust media product,” he said. “Crowd Control gives us the ability to build precise audience profiles customized to the needs of our agency partners. It’s a valuable asset that makes our offering one of the most cutting-edge in the industry.”
Emergence Capital led the funding. The Series C round included Hillcrest, Battery Ventures, and Pinnacle Ventures.
“Having the funding to further develop the arms of Lotame Solutions will help us to exceed expectations in 2011,” Monfried said.
