Monday, October 30, 2006 6:50:00 AM PDT | VentureDeal Staff
LOS ANGELES, CA -- SpotRunner announced the closing of a round of financing that brought the company $40 million in new funding. The company is an internet-based provider of commercial production, media planning and buying for businesses to purchase media on local television stations. Industry leaders such as WPP, CBS and Interpublic Group made strategic investments in the company alongside investments from Allen & Company, Tudor Investment Corporation, Capital Research and Management, Index Ventures and Battery Ventures. The company plans to use the funds to refine and improve its advertising solutions and to expand its service line.
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