Martini Media Network Closes $6 Million Series B Financing Funding Led by Reed Elsevier Ventures to Expand Outreach to Affluent Consumers
SAN FRANCISCO, June 8 /PRNewswire/ -- Martini Media Network www.martinimedianetwork.com, the leading media company targeting affluent consumers online, today announced that it has closed a $6 million Series B financing. The round was led by Reed Elsevier Ventures and joined by Granite Ventures and Venrock. The funding will be used to further expand Martini Media's leading position in reaching the affluent across business and lifestyle verticals through additional investments in its technology platform, sales efforts, research, publisher relationships and consumer personalization.
"We're thrilled that these investors recognized the power behind our business: reaching high-value, high-influence audiences online, at work and at play," said Skip Brand, Martini's CEO. "We've seen great success in connecting premium brands with affluent consumers, the top 25 percent of the online population who do a majority of all spending – we're incredibly excited about our opportunities to expand in the U.S. and internationally."
Reed Elsevier is one of the oldest and most respected publishing houses in the world and a pioneer in the provision of professional information solutions. Reed Elsevier Ventures, the corporate venture capital fund for Reed Elsevier, makes strategic investments specifically focusing on innovative management teams who have the desire and ability to challenge the status quo.
"Martini is a very compelling investment opportunity for Reed Elsevier Ventures. The company's approach to this market segment is highly differentiated," said Kevin Brown, partner at Reed Elsevier Ventures. "There is deep value in capturing key consumers in both their professional and personal lives and Martini Media is the emerging expert in targeting the affluent for premium advertisers."
Granite Ventures, known for funding top tier technology and software companies will help Martini continue to build and refine their technology platforms, especially around utilizing deep data profiles and targeting capabilities across audiences.
"Martini owns the affluent segment online," said Chris McKay, managing director at Granite Ventures. "Martini's innovative platform makes it the first destination for targeting and engaging the affluent audience across the entire web."
Venrock, which incubated the company in its Quarry and provided Series A financing, continues to be very optimistic about the future opportunities for Martini Media.
"Martini has proven their model works. By targeting the affluent at work and at play, they're seeing very strong consumer engagement which is leading to excellent results for advertisers," said Brian Ascher, partner at Venrock. "We expect continued growth from the Martini team, and are excited to see the results as they expand from the web and email to video, social media, and mobile."
In connection with the financing, Brown and McKay have been named to Martini's Board of Directors joining Brand, Ascher and Greg Coleman, president and chief revenue officer of The Huffington Post.
About Martini Media Network (www.martinimedianetwork.com)
Martini Media Network is a horizontally focused media company reaching American consumers with household incomes over $100,000 –25% of the US internet population. Sophisticated audiences require sophisticated strategies – Martini's high-engagement media in Lifestyle & Business, robust custom solutions & formats, deep data, targeting & technology, ensure success for Advertisers, Publishers & Consumers. With our invite-only publisher network of world-famous traditional titles & new media sites, Martini seeks to revolutionize the role of the media company in the 21st century with expertise in audience aggregation, technology solutions and advertising execution.
SOURCE Martini Media Network