Traditional publishers are getting even deeper into automated buying, as evidenced by Condé Nast’s just-announced investment in programmatic buying platform iSocket.
ISocket revealed today that it has received $5 million in new funding led by Time Warner Investments and Condé Nast, as well as include R&R Venture Partners, a fund created by former Time Warner CEO Dick Parsons and Ronald Lauder; and media investor Vivi Nevo.
“A new era in media sales is beginning, and automation will be playing a huge role," iSocket CEO Richard Jalichandra said in a statement. "We’re very pleased to have Time Warner and Condé Nast, two of the biggest names in publishing endorsing our model for advertising sales automation.”
“Condé Nast is pleased to support a platform that helps our premium advertising partners seamlessly enter the world of programmatic buying," added Alanna Gombert, gm of Condé Nast’s programmatic buying group CatalystDesk.
The company also announced the launch of a new tool, iSocket For Advertisers, that will give agencies, media planning platforms, and direct advertisers access to publishers including Microsoft, Reuters, and Forbes. According to Jalichandra, the new funding will be used to grow both iSocket For Advertisers and iSocket for publishers and help the company work with more partners on the buy, channel, and supply sides.