Boston’s Bain Capital Ventures is the lead investor in n 8.6 million Series B funding round announced for NY-based TargetSpot, reports XConomy. TargetSpot helps advertisers create and place ads on streaming Internet radio stations.
The company, launched less than a year ago, gives advertisers access to over 500 Internet radio channels, including many owned by CBS Radio and Entercom. TargetSpot’s Web-based platform allows advertisers to upload their own audio ads or record new ones; choose which stations, geographies, time of day, or audience demographic they wish to reach; and manage how much they spend on each campaign, starting at 50 dollars.
Also participating in the funding round were Union Square Ventures, CBS Corporation and Milestone Venture Partners.