Netherlands-based digital/TV ad agency Spotzer Media Group, trying to compete against the likes of SpotRunner, closed its third financing round this week. Fellow countrymen Cyrte Investments, which focuses on telecom, media and technology companies, led the round, the amount of which was not released.
Spotzer is currently offering a sneak preview of its video ad work on its website.  Spotzer, which has 20 clients so far, targets small local business, which can choose from hundreds of ready-to-air ads, allowing them to bypass traditional agencies that would charge much more to create custom work.
Spotzer was started by Andrew Klein, who previously founded an investment bank, Wit Capital, in 1996. The firm was partially owned by Goldman Sachs, went public in 1998, and ultimately was acquired by brokerage company Charles Schwab. Klein serves as Spotzer’s Chairman and CEO.
Spotzer’s previous fundings have been backed by post-production house DutchView, as well as investments by individual investors from the U.S. and Europe. Release
Related:
—Interactive Ad Agency Spotzer Raises Second Round Financing