Turn Raises $15M, Launches Ad Network

Paidcontent says ad network Turn raised a $15 million second round of funding from Norwest Venture Partners, Trident Capital, Shasta Ventures and other investors. The company raised an $8.5 million first round back in 2005.

At the same time, Turn announced it has formally unveilled what it calls “the world’s first fully automated market for online advertising.” Called Turn Smart Market, the network has 500 advertisers and agencies and covers 3,000 web sites. Turn says the technology allows publishers to automate some of the ad targeting that many currently do manually, on a cost-per-thousand, cost-per-click or on an auction basis. Turn was founded by former AltaVista CEO Jim Barnett.

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