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Ad Management Firm Raises Additional $3 Million

NEEDHAM, MASS.: Extreme Reach, which distributes video ads across various platforms, received a second add-on to the Series A funding it secured earlier in the year. The third cash infusion exceeded $3 million, according to The Journal of New England Technology. Investors included Greycroft Partners of New York, Long River Ventures and Village Ventures, both of Massachusetts. Rather than a third round, the funding is considered an “add-on” from an initial investment of $1.5 million in January, and another add-on of $1.1 million in May.

Company CEO John Roland told the Journal Extreme Reach would generate as much as $10 million in revenues next year. Launched in January, the company said it secured “more than 8,000 registered advertisers, agencies and media outlets in the first six months of business.” It said it delivers “thousands of video commercials” monthly. The Extreme Reach Network allows users to deliver, manage and track their commercial messages across TV, the Web and mobile devices.

Extreme Reach will use the latest round of cash for international sales and marketing.
-- Deborah D. McAdams