Mapvertising network Lat49 raises $1.5M

Mapvertising network Lat49 raises $1.5M
Geo-contextual advertising network Lat49, today announced the closing of a $1.5 million Series A financing led by PenderFund Capital Management, with participation from existing investors including Discovery Capital.

Lat49 is an advertising network made up of over 120 websites (,,, etc.) delivering location specific Real Estate, Travel, Sports & Recreation, and Local information via online maps. Lat49 map properties provide local and brand advertisers with an interactive medium for delivering geo-targeted and contextual display ads. For web publishers, Lat49 transforms online maps from cost centers into revenue-generating properties.

"Lat49 provides a major step forward for monetizing the LBS (Location-Based Services) industry," says David Barr, Chief Investment Officer at Pender and Fund Manager of Pender Growth Fund. "Having experienced the trends in location aware and SaaS (Software as a Service) offerings first-hand, Lat49 has nailed the ability to leverage location for the delivery of highly relevant advertising to Internet users."

Friday, July 17th 2009

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