NOTE: GrowthBeat -- VentureBeat's provocative new marketing-tech event -- is a week away! We've gathered the best and brightest to explore the data, apps, and science of successful marketing. Get the full scoop here, and grab your tickets while they last.
isocket, which has created a commission-free platform for selling online ads, has raised $2 million in seed funding from a group of big-name investors. The round was led by Tim Draper at Draper Fisher Jurvetson, while the other VCs participating including David Blumberg of Blumberg Capital, Jeff Clavier of SoftTech VC, and Dave McClure of Founders Fund.
The Mountain View, Calif. company (the two-man team recently moved out here from the Midwest) says its technology automates the process of selling ads on your site — advertisers just upload their order and their content, the ad seller approves the deal, and isocket handles the rest. Instead of taking a commission, isocket charges customers a monthly fee. This means it’s less time-intensive for publishers to sell their own ads, rather than outsourcing the process to an ad network — isocket’s first customer was tech blog TechCrunch, which used isocket to abandon ad network Federated Media and start selling advertising on its own.
The ad platform is currently in a private beta test. Oh, and if you need a job, isocket says it’s looking to expand the team by hiring salespeople and engineers.
Other investors in the round include David Hirsch, a former head of Google advertising sales, and now at Metamorphic Ventures; Steve Gurasich, co-founder and chief of ad agency GSD&M Idea City; David Cohen of TechStars; Accelerator Ventures; Quest Venture Partners; and Plug & Play Ventures. (VentureBeat had also received funding from Amidzad, Plug and Play’s investment arm.)
We're studying digital marketing compensation: how much companies pay CMOs, CDOs, VPs of marketing, and more
, with ChiefDigitalOfficer. Help us out by filling out the survey
, and we'll share the results with you.