Spot Runner, a Los Angeles-based Internet ad agency for local businesses, has raised $51 million in Series C funding. New backers included Daily Mail & General Trust, Grupo Televisa, Legg Mason Capital Management and Groupe Arnault/LVMH. The company did not specify which existing investors also participated, but the company had previously raised over $60 million from firms like Allen & Co., Battery Ventures, Index Ventures, The Interpublic Group, Tudor Ventures and WPP Group.
Spot Runner today announced that global media leaders Daily Mail and General Trust (DMGT) and Grupo Televisa, along with renowned institutions Legg Mason Capital Management and Groupe Arnault/LVMH, as well as existing investors have made equity investments in the company totaling $51 million.
“These strategic investments serve as a strong validation of Spot Runner's technology-driven advertising model, as well as the results we have generated for advertisers and media owners,”
said Nick Grouf, chairman and CEO of Spot Runner. “This further accelerates our momentum as we expand into a broader spectrum of online and offline media, both domestically and abroad.”
DMGT is one of the largest and most successful media companies in the United Kingdom with interests in national newspapers and related digital operations, local media, business and
financial information, exhibitions and radio. In addition to the United Kingdom, it has operations in Central Europe, the United States, Canada, Asia, the Middle East and Australasia.
“Spot Runner is transforming the way media is optimized and targeted across a broad spectrum of advertising mediums. As a media company with one of the largest bases of local advertisers
in Europe, we look forward to collaborating with Spot Runner and applying its model to our business, particularly as we continue to innovate in connecting advertisers with local audiences,”
said David Roddick, commercial director of Northcliffe Media, the local media division of DMGT.
Grupo Televisa, S.A.B. is the largest media company in the Spanish-speaking world. Televisa operates four broadcast channels in Mexico that have consistently maintained a sign-on to signoff
audience share of more than 70 percent. Televisa also has interests in the production of paytelevision networks, international distribution of television programming, direct-to-home satellite
services, cable television, magazine publishing and distribution, and radio broadcasting.
“Spot Runner has demonstrated its ability to create meaningful value for media companies by bringing new categories of advertisers to television and other media and by helping larger
companies invest their budgets more intelligently and effectively,” said Alfonso de Angoitia, executive vice president of Grupo Televisa, S.A.B. “We feel Spot Runner's model has great applicability to the Latin American market and we're excited to explore new opportunities to partner.”
Legg Mason Capital Management invested on behalf of one of its clients. Groupe Arnault/LVMH is the world's leading luxury products group, with a portfolio of over 60 prestigious brands including Mo