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Wednesday, May 07, 2008

As it looks to take its localized television advertising service global, Spot Runner Inc. has secured a $51 million Series C funding that includes several international strategic partners.

The funding came from new investors Daily Mail and General Trust, Grupo Televisa SAB, Legg Mason Capital Management and Groupe Arnault/LVMH, along with existing investors.

"One of the things we're doing is looking to begin building the partnerships to expand outside the United States," founder Nick Grouf said. "We're looking at ways to apply targeting technologies to allow the world's large brands to advertise locally."

Los Angeles-based Spot Runner is an Internet advertising agency that lets local businesses affordably produce, plan and buy television ads through its Web site. Users select an ad from Spot Runner's full library of stock commercials. Once the right ad is found, it can be customized with voiceovers, logo and business information.

The new investment syndicate gives Spot Runner, which launched in early 2006, some powerful media partners worldwide. Daily Mail and General Trust is one of the largest media companies in the U.K., with interests in national newspapers and related digital operations, local media, business and financial information, exhibitions and radio. Grupo Televisa is the largest media company in the Spanish-speaking world, operating four broadcast channels in Mexico, among other interests. Paris-based Groupe Arnault/LVMH is a luxury products group with a portfolio of more than 60 brands including Moët & Chandon, Hennessy, Louis Vuitton, Givenchy, Donna Karan, Sephora and TAG Heuer.

Grouf said the new funding was an "obvious validation" for Spot Runner. He said the company's revenue grew 500% last year, although he declined to provide specific revenue figures or a valuation. The company claims thousands of customers.

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