LOS ANGELES: The latest round of funding for ad-creation technology pioneer Spot Runner, founded here just two years ago, underscores the company's new focus on international markets.
Joining eager investors of the ilk of WPP Group, Interpublic Group, CBS and Lachlan Murdoch is the UK's Daily Mail and General Trust, Mexican media mammoth Televisa, and French luxury goods conglomerate Groupe Arnault/LVMH.
Initially targeting small local businesses such as stores and restaurants, Spot Runner's software enables access to TV advertising at affordable rates, allowing small firms to create 30-second commercials of professional standard for as little as $500 each.
It also facilitates the airing of those commercials in local markets – an ability that has attracted the media mammoths, who are equally eager to exploit targeted localisation.
In certain cases local targeting can be narrowed to as few as five hundred homes, while advertising content can be tailored on a city-by-city basis – an opportunity recently exploited by Warner Independent Pictures to promote the limited release of the movie The Painted Veil.
The latest round of funding will enable Spot Runner to extend its offering beyond TV to internet and radio advertising.
Says the company's ceo, Nick Grouf: "This further accelerates our momentum as we expand into a broader spectrum of online and offline media, both domestically and abroad."
Data sourced from Financial Times; additional content by WARC staff