US-based Solve Media has raised more than $5m from a venture consortium including internet group AOL’s corporate venturing division in one of its first public investments since its restructuring.
Solve has also released its Type-In product to allow advertisers to change the online authentication codeword to one of their catch phrases.
Its investors include AOL Ventures, run by Jon Brod and Mike Brown, venture capital firms First Round Capital and New Atlantic Ventures, and angels. Solve was founded by Ari Jacoby, its chief executive, Todd Lieberman, president, and Rett Wallace, a director and principal at early-stage investment firm EK Wallace.
Ari Jacoby, chief executive of Solve, said a strategic investor had been important for the consortium. He said: "AOL Ventures works hard for their portfolio companies. I’ve been impressed with their willingness to roll up their sleeves and help. They add measurable value."
Solve’s advertising clients include car maker Toyota, software company Microsoft, film producer Universal Pictures, AOL and media groups Tribune and Meredith Publishing.
Marty Collins, emerging media lead at Microsoft, said: "Solve Media helped us directly access consumer attention that was previously untapped. Our recent Internet Explorer campaign saw 41% brand lift for safety attributes, which was substantiated in our recent Comscore report."