Martini Media, an online ad agency specialising in high-end consumers, raised $13m on 7 December in a funding round featuring backers including Reed Elsevier Ventures, a division of the UK and Netherlands-based publishers.
The funding was led by San Francisco-based Granite Ventures with further participation from the Silicon Valley Bank and venture firm Venrock.
Founded in 2008, Martini uses a 1000+ network of lifestyle and business sites to target those with incomes over $100,000 – who in turn represent 70% of spending power in the US. Martini’s client companies use these affluent consumers to construct advertising campaigns.
All of the most recent venture investors were involved in two previous Martini funding rounds. In June 2010 the firm raised $6m in Series B funding led by Reed Elsevier Ventures with Granite Ventures and Venrock (which led a 2008 Series A round) also involved.
The latest round brings the total raised to more than $19m.