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Mixpo gets $4M in funding

February 3, 2009 — 10:32am ET | By Pete Wylie

Tools

Mixpo, an online video advertising company focusing on local advertisers, announced it has received $4 million in additional capital from previous investors. The round was led by Madrona Venture Group, and Growthworks Capital Ltd. with Yaletown Venture Partners participating as well.

"Online, locally-targeted advertising is proving to be a large and disruptive opportunity in the current market environment and Mixpo is leading the pack with their partners, customers and technology-driven solutions," said Matt McIlwain, managing director of Madrona Venture Group. "We are very pleased to be partnering with the Mixpo team who is delivering tangible results for their customers and investors alike."

The funding announcement comes on the heels of Mixpo being named to the On Media 100 list of top technology start-ups by AlwaysOn Media.

"It's an honor to be recognized by AlwaysOn as one of the OnMedia 100 technology companies," said Mixpo's CEO and President Anupam Gupta. "Ad dollars are shifting from traditional media to online local advertising. We're excited about the potential video has to drive more effective results for local advertisers--large or small."

Mixpo has raised $10.5 million to date, and the company has landed several important deals with major local publishers, like Comcast, NBC Local Media and Tribune.

For more:
- see the VentureBeat article here

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