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Online advertising company, Turn, has raised an amount of $15 million in the third round of funding. The Redwood City, California based company claims to be the world’s first Smart Market for online advertising. The round was lead by Focus Ventures, and also includes prior backers which were Norwest Venture Partners (NVP), Trident Capital, and Shasta Ventures. So far the total amount raised by the company is around $37 million.
The company had a 1.9 billion ad impression in July this year and is the 16th largest ad network according to comScore’s measurement. Jim Barnett, the former AltaVista CEO, is the current CEO of Turn.
According to Jim, the company is:
benefiting from superior targeting technology, a model that combines CPA and CPM models and a high level of control for publishers, ensuring that they won’t receive brand-denigrating ads.
Right now the company contains 40 employees. The amount raised will be utilized to increase the number of staff in the department of sales and client services.
