Index Ventures and Battery Ventures announced a few weeks ago they have co-led a $10M Series A investment in Spot Runner, the first Internet-based advertising agency that makes it fast, easy and affordable for local businesses to advertise on TV. Comerica Bank and others also provided funding for this round.

Spot Runner’s web-based service allows businesses to air personalized, high-quality television ads in their local markets. Spot Runner offers a full-service package – commercial production, media planning and ad time – for a fraction of the cost and time of traditional broadcast advertising. A complete campaign can be purchased for as little as $500. In contrast, traditional methods can take weeks and cost tens of thousand of dollars to produce a commercial of comparable quality.

“Nick and David are extremely forward-thinking individuals,” said Danny Rimer, general partner at Index Ventures. “They have shown an uncanny ability to find intersections of macro trends, and the leadership to pull a team together to exploit them. They have assembled talent from the advertising, cable and online worlds, and have set their sights on democratizing the world of television advertising. It’s a great team in a large and exciting market.”

“Spot Runner is delivering high value to a huge and underserved market,” said Roger Lee, general partner at Battery Ventures. “National brands have been using TV to take share from local businesses for years. With Spot Runner, local businesses can use the power of broadcast and secure a professional quality spot in just a few clicks of a mouse. They can finely target and cost-effectively reach their customers using powerful tools that were historically out-of-reach. The Spot Runner platform is a compelling example of how the web has leveled many of the business playing fields.”

Spot Runner is launching with a reliable list of clients and offers its services in all 50 states. The customer base includes a wide variety of industries, including law firms, dentists, hair salons, employment agencies, real estate brokers, flower shops and different manufacturers.