On the heels of a post last week about the challenges of getting investor money comes word in MediaPost that Channel M has completed another round of financing, this time with Intel Capital. There was a $6 million raise announcement a few months ago, as well. Total money in the door to date: $24 million.
The company will use the Intel funding to develop a digital distribution platform for its place-based video network, giving national advertisers greater control and flexibility in their local campaigns. For example, it will allow them to tweak ad creative or the geographic distribution of a campaign after it has launched. It will also provide speedier confirmation that ads ran when and where they were supposed to.
Funding for established companies with recurring revenues is a whole ‘nother thing than pre-money outfits with good ideas but no track records.
Dave Haynes is the founder and editor of Sixteen:Nine, an online publication that has followed the digital signage industry for some 14 years. Dave does strategic advisory consulting work for many end-users and vendors, and also writes for many of them. He’s based near Halifax, Nova Scotia, on Canada’s east coast.