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Balihoo, a Media Planning Software, Raises $4M in Series B Financing
Boise, ID (PRWEB) January 3, 2008 -- Balihoo (http://www.balihoo.com), the only provider of web-based media planning software that streamlines the media research, selection, and request-for-proposal (RFP) processes with on-demand data, today announced that it has raised $4 million in its Series B round of funding. Highway 12 Ventures led the round with participation from existing investor Lacuna Capital. The company will use the funds to augment their sales and marketing efforts targeting the media buying and planning community.
According to Pete Gombert, founder and CEO of Balihoo, "Our Beta Program, which recently ended and included 8 of the top 10 media buying companies in North America, helped us refine Balihoo and identify areas for future development. The product is ready to go and we're excited to get the commercial version into the hands of our customers."
Based on the world's largest database of advertising opportunities, Balihoo helps media organizations make better decisions faster and create more effective media plans by helping them easily find, gather, analyze and share data. Balihoo reduces the administrative workload on media buyers and planners, freeing them up to focus more on the overall strategy of the media plan.
"It's hard to think of a bigger pain point for media buyers and planners given the colossal fragmentation of advertising opportunities," said Mark Solon, Managing Partner of Highway 12 Ventures . "We were particularly struck by the company's ability to provide an elegant solution to this problem and believe Balihoo has the potential to be on the desktop of every professional media buyer and planner worldwide."
Since exiting their Beta, Balihoo has released three media planning products for media buyers and planners (http://www.balihoo.com/product.html):
? Balihoo Basic - A free version of Balihoo that provides basic and advanced search plus access to all community media data including demographics, contacts and media kits.
? Balihoo Pro - Integrates campaign management, a custom media database and RFI/RFP functionally for a true on-demand system for media buying and planning companies
? Balihoo Enterprise - Custom development for integration with existing syndicated research providers and media execution applications.
More details on the company and their media planning software (http://www.balihoo.com/frontend/media-buyer.html) can be found at www.balihoo.com.
Media Planners and Media Sellers can sign up for a free Balihoo account by visiting the Balihoo registration page. (http://app.balihoo.com/FrontEnd/Register.aspx)
About Balihoo
Balihoo, based in Boise, Idaho, is web-based media planning software that streamlines the media research, selection, and request-for-proposal (RFP) processes with on-demand data, and then aggregates all that information into one easy-to-use single location accessible by an entire company. Based on the world's largest database of advertising opportunities, Balihoo helps media organizations make faster/better decisions and create more effective media plans by helping them easily find, gather, analyze and share data. For Media Owners (http://www.balihoo.com/frontend/media-owner.html), Balihoo extends the visibility and accessibility of advertising opportunities to drive interest and sales.
About Highway 12 Ventures
Highway 12 Ventures is a leading early-stage VC fund investing in high-growth, entrepreneurial companies in the Intermountain West states of Idaho, Utah, Montana and Colorado. With over $100 million under management, it is Idaho's largest venture capital firm. Highway 12 Ventures is part of the Village Ventures nationwide network of venture capital funds. For more information call (208) 345-8383 or visit www.highway12ventures.com.
About Lacuna?
The Lacuna? Venture Fund provides Gap Capital? to dynamic early-stage companies which are in need of the next level of financial and advisory resources to succeed. In addition to capital investments, Lacuna's principals work closely with management teams to develop tightly focused go-to-market strategies, to accelerate revenue growth, and to implement best-of-class operations that lead to exceptional successes. Lacuna is based in Boulder, CO. www.lacuna.com.
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