Travel Ad Network raises $15 million round
Travel Ad Network has raised $15 million in a first round to fuel its growth in the travel vertical market. The round was led by Rho Ventures, Village Ventures and individual investors.
The investment will help TAN target travel advertising dollars and marketers who are seeking upscale consumers. TAN can deliver 12.5 million monthly unique visitors to advertisers through its partners. Among its 50-plus sites are BBC’s Lonely Planet and Rand McNally.
Habib Kairouz, managing partner at Rho Ventures, will join TAN’s board. So will Rho Ventures partner Doug McCormick, former CEO of Lifetime Networks and Chairman and CEO of iVillage. Another new board member is Benjamin Wolin, the co-founder and CEO of Waterfront Media, the largest privately held online health company. In the past year, the company said it surpassed Yahoo Travel in audience and launched its first video ad campaign. It also expanded to Canada and the United Kingdom.
Savvian Advisors served as the exclusive financial advisor to Travel Ad Network for the transaction. Travel Ad Network was founded in 2003 and is based in New York.
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About the Author, Dean Takahashi
Dean is lead writer for GamesBeat at VentureBeat. He covers video games, security, chips and a variety of other subjects. Dean previously worked at the San Jose Mercury News, the Wall Street Journal, the Red Herring, the Los Angeles Times, the Orange County Register and the Dallas Times Herald. He is the author of two books, Opening the Xbox and the Xbox 360 Uncloaked. Follow him on Twitter at @deantak, and follow VentureBeat on Twitter at @venturebeat.
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