Travel Ad Network picked up $15 million in funding in a Series C round led by Starvest Partners.
"Travel Ad Network's goal remains to build, serve and organize the largest online travel audience worldwide," says Travel Ad Network President and CEO Brian Silver. "Our advantage is to understand intent throughout the lifecycle of travel planning and purchase. With more than 36 million monthly unique visitors worldwide, we can deliver the appropriate ad, utilizing both audience and contextual relevancy across a single platform.”
Starvest was joined in the round by existing investors Rho Ventures and Village Ventures. To date, Travel Ad Network has raised $31 million.
The company says revenue has grown 30% despite the tough ad markets of 2009 and 2010.
"The investment enables TAN to accelerate the company's efforts as an integrated digital media company with a focus still on the travel industry," Silver says.
Silver adds: "The proceeds of this round go towards the acquiring of travel sites, content, and tools, as well as increasing our technology infrastructure and our ad sales and operational staff."