Ad firm Q1Media today announced it has taken in a fresh $8 million in debt from Silicon Valley Bank and Partners for Growth. In a vague statement, the company said the new capital will help it “rapidly gain market share.”
At the heart of this news is a common struggle for publishers: the need to boost reader-driven revenues. The Austin, Tex.-based company claims to help “web publishers to maximize their display and video advertising revenue across desktop, tablet, and mobile platforms.”
The 10-year-old ad firm currently works with over 1,500 web publishers, reaching more than 200 million unique monthly visitors.