Online ad firm Linkstorm has raised a $2.8 million fourth round funding from a group of old and new investors. The New York company plans to use the proceeds to add to its sales team. Linkstorm will also use the funds to build out its technology platform, which is aimed at promising more ROI components for display ads.
Linkstorm has raised nearly $12 million since it was founded 9 years ago. Among the new investors are Rick Braddock, former president and COO of Citicorp and subsequently CEO of Medco, Priceline.com and currently FreshDirect, and Donn Rappaport, co-founder and CEO of American List Counsel and last year's chair of the Direct Marketing Association. The company didn't disclose which of its repeat backers returned for this latest round. In January, the company tapped Ari Brandt, at the time the digital media head of Cond Nast Business Media Group Online, as CEO when founder David Sidman moved over to become chairman. Release
By David Kaplan