Nav

Image Space Media Receives $2.9 Million In First Round Financing from Leading Media Industry Investors

New York, NY (PRWEB) January 19, 2010 — Image Space Media (www.imagespacemedia.com), the leading provider of in-image advertising for the Internet, has received $2.9 million in first-round financing led by New Atlantic Ventures (NAV). Michael Gordon, Co-Founder and Chief Strategy Officer of Limelight Networks, Inc. (LLNW), will also join the Board of Directors.
“Publishers are constantly seeking effective methods for monetizing their site content. Image Space Media’s ad overlay platform provides a source for incremental revenue that doesn’t compete with other revenue sources,” said Jesse Chenard, CEO, who most recently co-founded leading online video advertising network, Tremor Media. “Given the huge numbers of images across the Internet, the potential for scale is just incredible.”
With more than 32 million unique visitors each month, Image Space Media places relevant ads on the lower fourth of 7.4 million images across the Internet and serves hundreds of millions of impressions per month.
“Site visitors consistently engage with site images and rarely view banners anymore. Image Space Media has identified a solution to banner blindness and is getting great performance from their ads,” said Scott Johnson, Managing Partner at NAV. “Publishers need incremental revenue now more than ever so we are extremely bullish on the Company’s prospects.”
Publishers gain incremental revenue through relevant, precisely targeted ads. The transparent ads are user-controlled and only appear when the site visitor mouses over an image.
“Image Space Media’s advanced platform is delivering outstanding results for an expanding group of publishers and advertisers and is poised for even more significant growth,” said Gordon. “Website images represent a significant untapped revenue opportunity for publishers and a new, high-engagement opportunity for advertisers.”

About Image Space Media
Image Space Media is the leading provider of in-image advertising for the Internet. Image Space Media reaches more than 32 million unique users worldwide each month with its ad overlay solution. Image Space Media superimposes relevant advertisements over more than 7 million images across the Internet and serves hundreds of millions of impressions per month. Image Space Media provides publishers with a method for adding incremental revenue to their sites and advertisers an additional pipeline to reach their customers. Founded in 2008 and headquartered in New York, Image Space Media maximizes web advertisement space without compromising content integrity. For more information please visit www.imagespacemedia.com, follow @imagespacemedia on Twitter.

About New Atlantic Ventures
New Atlantic Ventures is a leading early-stage venture capital firm targeting investments in technology companies in emerging mass markets. Through its offices in Cambridge, MA and Reston, VA, NAV targets companies in the Eastern United States, while also pursuing select opportunities nationwide. The NAV portfolio includes investments in Pontiflex, Stitcher, GateRocket, Mpowerplayer, TVU Networks, Koofers, Secure Command and FashionPlaytes. For more information, visit www.navfund.com.