Social Media Ad Platform Lotame Raises $13 Million Series B

Lotame, which runs an ad platform aimed at social networks, has raised a $13 million Series B round, led by new investor Emergence Capital Partners. Previous investors Battery Ventures and Hillcrest Management, who particpated in Lotame's $10 million A round in February, also invested.

Lotame's pitch: It has cobbled together a network of social networking sites that aren't Facebook and MySpace, but that combined give advertisers a total reach of 53 million users. Particpating sites include Fotolog, Meez, Flixster, PalTalk. CEO Andy Monfried was a longtime veteran at Advertising.com, now part of TWX's AOL.

See Also: Social Media Ad Network Lotame Raises $10 Million