MediaBank gets 10.5 million investment


Yet another online startup is hoping to establish itself as the standard for how all sort of old media and new media advertising is sold. MediaBank announced a 10.5 million bucks investment from New Enterprise Associates (NEA), a venture capital firm.

"MediaBank's planning and buying platform will change the way media is purchased. Their talented team has developed a proprietary technology platform, securing a distinct advantage in the exploding online advertising market, and has refreshed traditional advertising as well. We look forward to great things from this team," declared NEA Managing General Partner Peter Barris, who will join the MediaBank board of directors.

MediaBanksays its services are designed for companies of all sizes. They consist of an end-to-end order management system, which spans across all media types, including direct response, TV, radio, billboards, digital advertising, and more. They also include proprietary interfaces to media demographics and pricing systems, and a full suite of analytics and reporting tools. The company expects to begin offering its services to large advertising agencies in early 2008, and roll out to small and medium sized agencies later in the year.