Toronto-based advertising technology company Shiny Ads announced it has secured $400,000 in early stage investment, with an option for an additional $250,000. The round was led by Intertainment Media with participation from existing investors Maple Leaf Angels and York Angels.
As part of the agreements, Intertainment Media takes an unspecified ownership stake in Shiny Ads and will have a seat on the board. Shiny Ads said the funds will be used to accelerate its sales strategy and continued product evolution.
Shiny Ads focuses on sell-side automation of premium ad inventory. Its self-serve solution supports direct sales teams and works in conjunction with ad networks. Its existing clients include CBS Interactive, DeviantArt.com, Wikia.com, AdWeek.com, Unanimis.co.uk and SourceInterlink, among others.
In addition to its technology incubator efforts, Intertainment Media owns and operates properties including Ad Taffy, itiBiti, Ortsbo, Deal Frenzy and Magnum.
David Lucatch, CEO of Intertainment Media, said Shiny Ads has “phenomenal” potential for successful global deployment.
Brad Parry, chief marketing officer of Intertainment Media, added, “The investment in the Shiny Ads platform provides a fantastic strategic opportunity for Intertainment Media’s current portfolio of investments. The ability to more efficiently direct premium advertisers to our available inventory across our multiple platforms will ensure that we are securing the best possible returns for our inventory.”
Press release – http://tinyurl.com/7mowtrv
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