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02/21/2006

Spot Runner Secures Series A Financing from Index Ventures and Battery Ventures

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.