OwnerIQ, the Boston-based developer of a real-time media buying platform, has closed on $7 million in fresh capital from its existing shareholders and from Longworth Venture Partners, the company announced Monday. The company has previously raised capital from investors including Atlas Venture, CommonAngels, Massachusetts Technology Development Corp., and Egan-Managed Capital.
OwnerIQ, the inventor of Ownership Targeted media and developer of one of the most advanced Real-Time media buying platforms in the industry, announced today it has closed a $7 million expansion round. All existing investors participated, and Longworth Venture Partners also joined this round.
The success of OwnerIQ reflects a broader trend in which advertisers are increasingly able to buy focused audiences rather than specific sites. OwnerIQ makes that possible by using “ownership signals” — signs that a person browsing the web probably owns a particular product — to place appropriate ads in front of that person as that person visits a number of different sites. OwnerIQ’s data can inspire the placement of an ad for an upgraded version of that product, for complementary products, or for a competitive product.
“OwnerIQ’s innovative approach to online advertising makes it unique,” said Jim Savage, a partner and co-founder of Longworth Venture Partners. “The ascent of real-time bidding and programmatic audience buying have brought efficiency to the market, prompting more brand dollars to move online. Brands can now hypertarget their audiences and can do it at scale.”
The company grew at an explosive rate of 700% from May 2010 to May 2011 year, and has worked with more than 200 advertisers.
“Ownership data solves a big problem for agencies,” said Eric Hjerpe, a partner at Kepha Partners. “Such data points increase ad performance and help advertisers reach consumers they might otherwise miss. OwnerIQ is the only company supplying this data, and that’s why we’re proud to continue our support.”
This story first appeared in MediaPost.
OwnerIQ operates a network of channel-focused websites to help consumers easily find and store must-have self-support product information. The Network’s audience of actively engaged consumers is growing rapidly. The company pioneered the concept of Ownership Targeting, providing brand advertisers with highly customized programs to precisely target consumers based on products they already own. Ownership Targeting takes the guesswork out of identifying likely purchasers and enables advertisers to influence consumers throughout a product’s ownership lifecycle. Founded in August 2006, OwnerIQ is based in Boston and is led by a proven management team of online media professionals. For more information, please visit www.owneriq.com.