NY-based Web radio ad network TargetSpot has closed a $8.6 million Series B financing round. Leading the funding: Bain Capital. Previous investors Union Square Ventures, CBS Corporation (CBS), and Milestone Venture Partners also participated. Bain’s Jeffrey Glass will join TargetSpot’s board.
TargetSpot, whose ads reach more than 400 online radio stations, will use the money to expand its sales and tech teams. Its ad network handles text, banner, video, and audio ads, and offers demographic, location, and station-based targeting options.
See Also: TargetSpot Announces Six New Partners