AOL Backs Ad Startup Appssavvy

CEO touts 'activity-based' ads

Appssavvy, a startup promising an alternative to traditional online advertising, has secured new funding from big names in the media world.

The company's new round totaled $7.1 million, and it came from AOL Ventures, as well as Appssavvy's previous backers, a list that includes True Ventures, The New York Times Co., About.com founder Scott Kurnit (who's also experimenting with new ad models at his startup AdKeeper), and StockTwits co-founder Howard Lindzon.

Earlier this year, Appssavvy shifted its focus from standard display ads to what the company calls its "adtivity" platform.

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