Today, Toronto-based startup Shiny Ads, announced that it has closed a $500,000 seed funding round led by the two largest Angel networks in the greater Toronto area - Maple Leaf Angels and York Angels. They also received individual investments from other players in the digital media industry.
Shiny Ads is a self-service advertising platform that has helped mid to large online publishers, like deviantART.com, maximize their advertising revenue by providing a simple, user-friendly interface to enable long-tail advertisers to purchase ads on high traffic websites. Ernie Riemer, VP of Advertising for deviantART says "the platform that Shiny Ads provides allows us an efficient and customizable way to offer a great product to the large number of small businesses looking to advertise on deviantART."
Shiny Ads is one of the first advertising technology companies to focus on serving the long-tail advertiser segment. Their advertising platform was already integrated into a large number of online publisher's websites prior to the seed funding round.
"Shiny Ads is a disruptive technology that allows content publishers to directly interact with their small and local advertisers in an extremely cost effective manner" says Robert Koturbash, founding Managing Director of the Maple Leaf Angels. His company hosted an “Office Hours and Drinks” event in Toronto last night to meet one-on-one with local entrepreneurs.
Shiny Ads was established in May 2009 and until now, Roy Pereira, its founder and CEO, privately funded the advertising technology company. "Passion is everything in a startup environment. If you truly believe in your product and execute like your life depends on it, then success will follow,” says Roy Pereira.
The investment has enabled Shiny Ads to grow their team to include industry veterans like Zunaid Khan, VP of Business Development and Sales. Khan's previous roles include Canoe/Sun Media as Director of Product Management and Strategic Alliances and Director of Technology Sales at 24/7 Real Media. Joining the Board of Directors is James Prudhomme, one of Canada's leading Digital Media executives, Scott MacCannell, founding President of York Angels, and Robert Koturbash who is the founding Managing Director of the Maple Leaf Angels.
"York Angels is very pleased to be involved as a partner with Roy Pereira and the great team of professionals that he has assembled at Shiny Ads to address this promising market opportunity. We very much look forward to working with Roy and his team, the Maple Leaf Angels and the other independent Investors that are involved in this exciting venture," said Scott MacCannell.