Martini Media Network, a media company targeting affluent consumers online, has closed a $6 million Series B financing. The round was led by Reed Elsevier Ventures and joined by Granite Ventures and Venrock.
Reed Elsevier Ventures is the corporate venture capital fund for Reed Elsevier, the media giant thaat has recently been selling off its magazine businesses. Reed Elsevier Ventures was founded in 2000 and has made investments in the US, Europe and Israel. Initially seeded with $100m, the fund focuses on investments in internet, media and technology companies. Current Investments include Fina Technologies, Healthline Networks, Intelligize, Palantir Technologies, PartMiner and Recruiting.com.
“Martini is a very compelling investment opportunity for Reed Elsevier Ventures. The company’s approach to this market segment is highly differentiated,” said Kevin Brown, partner at Reed Elsevier Ventures. “There is deep value in capturing key consumers in both their professional and personal lives and Martini Media is the emerging expert in targeting the affluent for premium advertisers.”
Location: USA, San Francisco, CA
Ref: F231109-494
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