New York – Image Space Media, a provider of
"in-picture" online advertising that displays an overlay ad when a
user mouses over an online image, has raised $2.9 million in first round
funding, PaidContent reported.
The round was led by New Atlantic Ventures.
Founded in 2008,
New York-based Image Space says it uses a keyword matching algorithm to help
ensure the ads are precisely targeted and relevant.
The company added that the service is
currently employed on over 7.5 million Web images.