Travel Ad Network (TAN), the leading and largest vertical media company in travel, announced today that it has closed a Series C round of financing. The $15 million round was led by StarVest Partners with participation by existing investors Rho Ventures and Village Ventures.
TAN previously raised $15 million primarily from Rho Ventures with participation by Village Ventures and individual investors in a round in early 2008. Since inception, the company has raised approximately $31 million.
“Travel Ad Network’s goal remains to build, serve and organize the largest online travel audience worldwide. Our advantage is to understand intent throughout the lifecycle of travel planning and purchase,” says Brian Silver, President and CEO of Travel Ad Network. “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.”
“Travel Ad Network has grown revenue more than 30% despite the economic and advertising industry headwinds in both 2009 and 2010. This is a very impressive accomplishment by Brian and his team and we look forward to working with them on the next generation of online travel marketing,” says StarVest general partner Larry A. Bettino, who will join TAN’s Board of Directors.
GCA Savvian Advisors, LLC, served as the financial advisor to TAN for this transaction.