Beringea Invests $3.2 Milion in InSkin Media
Michigan’s largest venture capital firm, Beringea, announced this week that it has invested $3.2 million in InSkin Media, a British digital advertising company. InSkin Media will use the investment to develop its mobile format and build international operations.
Launched in 2009, InSkin appealed to Beringea because of its innovative online advertising formats that wrap around video players and web pages, says Trevor Hope, Beringea’s chief investment officer in London. InSkin’s technology allows advertisers to track the way users interact with their sites, as well as which site a user was on before accessing the advertiser’s site.
Hope says he’s interested in companies like InSkin, which are making the shift from traditional to online advertising and racking up a stellar return on investment while doing it. Part of the investment will be used, he says, to explore expanding operations to the United States. “It’s still up for debate whether InSkin sets up its own U.S. office or partners with an existing American company,” he adds.