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NY ad firm Intent Media looks to European expansion

NY ad com­pa­ny Intent Media, which spe­cial­izes in adver­tis­ing prod­ucts for the trav­el indus­try, has raised $22.7 mil­lion in new fund­ing.

Ads based on real-time intent 

As any art direc­tors or account man­agers who vis­it these pages will be aware, we like to focus on up-and-com­ing online adver­tis­ing agen­cies and oth­er fledg­ling firms much of the time here. But some­times, it’s good to see how a more estab­lished com­pa­ny is doing. And Intent Media, by all accounts, has been doing extra­or­di­nar­i­ly well.

The Series C round (led by New York’s Insight Ven­ture Part­ners) brings the company’s total fund­ing since its 2009 launch to $51 mil­lion. Investors, it would seem, are more than impressed by Intent’s per­for­mance. Its tech­nol­o­gy, which mea­sures poten­tial con­sumers’ “real-time intent” on the basis of their brows­ing behav­ior and then sends ads based on each indi­vid­ual vis­i­tor, has attract­ed a glit­ter­ing client list. Names include Expe­dia, Hotwire, Trav­e­loc­i­ty, ebookers.com, lastminute.com, Hotel Club, Trav­el­port, Hip­munk, Cheap Tick­ets and Orb­itz.

Even the most sea­soned and unruf­fled account man­ag­er would have to con­cede that that adds up to a pres­ti­gious and envi­able batch of accounts. Real-time con­sumer intent track­ing has clear­ly got legs, and Intent Media has estab­lished a rep­u­ta­tion as a mar­ket leader in the approach amongst trav­el com­pa­nies.

In a state­ment, the company’s CEO, Richard Har­ris, said:

“2014 has been an excep­tion­al year for Intent Media. Year-over-year, our rev­enue has tripled, and we’re expand­ing our pub­lish­er and adver­tis­er part­ner­ships domes­ti­cal­ly and inter­na­tion­al­ly. We have a unique propo­si­tion — that risk-mit­i­gat­ed adver­tis­ing enables trav­el retail­ers to gen­er­ate more mon­ey from their vis­i­tors– and it’s clear­ly res­onat­ing in the mar­ket. Insight Ven­ture Part­ners has deep expe­ri­ence in our space and will help us scale the busi­ness glob­al­ly.”

Growth and devel­op­ment 

The new mon­ey will, amongst oth­er things, be ploughed into accel­er­at­ing the firm’s glob­al expan­sion. It launched in Europe ear­li­er this year and is short­ly to open a Lon­don office, aim­ing to build its adver­tis­er and part­ner base across all the major Euro­pean mar­kets. It’s also plan­ning to recruit an addi­tion­al batch of “tech­nol­o­gy obsessed” engi­neers to expand its “freak­ish­ly tal­ent­ed” devel­op­ment group, as well as launch­ing inno­v­a­tive new prod­ucts.

And if that hasn’t induced a twinge of envy in our account man­ag­er, the firm’s plans to diver­si­fy into oth­er ecom­merce cat­e­gories as well just might.

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