Thursday, February 28, 2008

WideOrbit Finds New Funding

WideOrbit, which develops software for managing advertising sales, said this morning that it has received new funding from Khosla Ventures, Greycroft Partners, and Hearst Ventures. Financial terms fo the investment were not disclosed. Heart Ventures was an existing investor in the firm. WideOrbit provides software for managing advertising sales, billing, and tracking of television, radio, cable network, and other advertising. As part of the funding, WideOrbit also said it has hired Steve Sommer as Chief Marketing Officer, and Igor Tsyganskiy as Senior Vice President of Engineering at the firm. Sommer joins from SuccessFactors; Tsyganskiy from SAP. More information »