SeeSaw Networks, an out-of-home digital media company, announced November 15th it has closed $10 million Series A financing from Sutter Hill Ventures. As the sole institutional investor in SeeSaw Networks, Sutter Hill Ventures holds two positions on the board of directors for Tench Coxe and Jim Gaither, both managing directors at the firm.
The new funding will be used to develop and operate SeeSawAds.com and expand its sales force and network of affiliates across the country. SeeSawAds.com enables advertisers and agencies to uniquely customize out-of-home digital media campaigns across venues, markets and demographics, reaching people where they are.
"The SeeSaw management team is a powerful blend of media, brand, and technology experts," said Tench Coxe. "We believe SeeSaw's experience and capability in this space will quickly take the company from start-up, to revenue, to profit."
SeeSaw's founding team includes Monte Zweben, chairman and former chairman, CEO and founder of Blue Martini Software; Peter Bowen, CEO and former president of multiple divisions of the H.J. Heinz Company; Jeff Dickey, vice president of business development, founder of DoubleClick and former senior vice president of PRN; Rocky Gunderson, vice president of marketing and network development; and Scott Hines, vice president of user experience.
"As people become increasingly more mobile, the importance of adding out-of-home digital media to the marketing mix is critical for brands to stay competitive," said Gaither. "Out-of-home digital media is an effective advertising media and is becoming a major component of advertisers' media mix much like the Internet is today."
According to SeeSaw Networks , until now, advertisers and media agencies have been hesitant to include out-of-home digital media in their campaigns because of the fragmented marketplace with over 700 ad network platforms. It is virtually impossible for an agency or advertiser to plan a comprehensive out-of-home digital media campaign with the lack of standards and metrics across networks. "SeeSaw aggregates available out-of-home digital media from our network of affiliates and blends it together into a comprehensive national network to provide agencies and advertisers breadth and depth across multiple markets and demographics utilizing consistent standards and metrics," said Peter Bowen, chief executive officer of SeeSaw Networks.
SeeSawAds.com is in beta now and will be available for broad commercial use in 2007.
For more information on SeeSaw Networks, please visit www.seesawnetworks.com.