Montreal-headquarted iNovia Capital tweeted today that they were involved in a $20 Million round backing online advertising network and technology provider Collective Media. The growth equity financing was led by Accel Partners and is the second round that iNovia has participated in – they were a 2007 investor in Collective Media.
The company will utilize the new funds to further fuel organic growth, as well as to accelerate technology development, expand internationally and explore acquisitions. Since its launch in 2005, Collective Media has helped Fortune 1000 brand advertisers extend their reach and target audiences at great scale and efficiency without compromising quality. The company combines this expertise with a sophisticated portfolio of technology products designed to offer advanced audience targeting, ad network management and analytics.
iNovia Capital manages seed and early stage venture capital funds, with a focus on helping entrepreneurs build successful companies in information technology, life sciences and cleantech.