Reed Elsevier Ventures, the corporate venturing division of Netherlands and London-listed parent companies both called Reed Elsevier, has led the $6m second round of funding for US-based advertising company Martini Media Network.
US-based venture capital firms Granite Ventures and Venrock joined publishing company Reed’s venturing unit in the series B round.
Skip Brand, chief executive of Martini, said: "We’ve seen great success in connecting premium brands with affluent consumers, the top 25% of the online population who do a majority of all spending."
Kevin Brown, partner at Reed Elsevier Ventures, who has also joined Martini’s board, said: "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."
Venrock started Martini in its incubation unit, Quarry and provided undisclosed series A financing.