go-Digital Blog on Digital Marketing

WOOHOO! A Giant Magazine Publisher Just Dropped $10 Million On This Startup

Source: http://www.businessinsider.com/unified-advance-publications-funding-2012-6

Unified, whose software is used by brands and ad agencies to buy, manage, and measure how ads perform on social networks, just raised $10 million from Advance Publications, the owner of magazine publisher Condé Nast.

The startup also pulled in another $4 million from Silicon Valley Bank, for a total of $14 million.

CEO Sheldon Owen’s reaction on signing up Advance: “Woohoo!”

“They own an incredible amount of media properties and understand social is the future of advertising,” said Dave Donahue, Unified’s head of communications.

Andrew Siegel, a former Yahoo dealmaker who joined Advance in 2010, is joining Unified’s board.

Unified has been around for a little over a year. Its revenues are already in the double-digit millions, Donahue said. Microsoft, BMW, and GE are among its 200 clients.

The company plans on using the funds to grow sales, ramp up its tech by doubling the engineering team in the next four months, and invest in marketing.

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