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Revolution Growth, Greycroft Partners and iNovia Capital have invested $20 million into Resonate, a big data ad tech company that targets audiences based on belief systems and values. The “big data” sector has become particularly hot, with VCs pouring $2.47 billion into such companies last year. That’s is a billion more than the year prior.
Steve Case and Ted Leonsis have made their second major investment with their $450 million Revolution Growth Fund. This time they’ve chosen to lead a $20 million investment in Reston, VA-based ad-targeting startup, Resonate Networks Inc.
Resonate just announced a $20M Series B funding led by Revolution Growth, a private investment fund run by AOL Co-Founder Steve Case, former AOL Vice Chair Ted Leonsis and former President of AOL Interative Donn Davis.
Reston, Va. -- Resonate, a Reston-based developer of audience targeting technology, said on Wednesday it has raised more than $20 million in its second round of funding, led by Revolution Growth, the DC-based investment firm created by AOL co-founder Steve Case and Wizards and Capitals owner Ted Leonsis.
Resonate Networks, Inc., an advertising technology company, has raised in excess of $20 million in Series B round of financing led by Revolution Growth with participation from Resonate’s Series A investors, Greycroft Partners and iNovia Capital.Ted Leonsis, former AOL Vice Chair and co-founder of Revolution Growth, will join Resonate’s board of directors.
Resonate, a Reston-based developer of audience targeting technology, said on Wednesday it has raised more than $20 million in its second round of funding, led by Revolution Growth, the DC-based investment firm created by AOL co-founder Steve Case and Wizards and Capitals owner Ted Leonsis. Previous backers Greycroft Partners and iNovia Capital also took part in the round, which the company will use, in part, to launch a new big data tool for political campaigns and corporate marketers.
Hotel ads featuring palm trees and white, sandy beaches start to look very appealing this time of year. However, according to recent research, the imagery and copy do little to motivate travelers to book hotel rooms.