24/7 Real Media Raises $5 Mil.

Posted Monday, July 8, 2002 12:00 am

By: 24/7 Real Media Inc. raised $5 million in equity funding last week from Sunra Capital Holdings Limited, an investment group advised by San Francisco-based Merchants Group International. Sunra has an option to increase its investment by $2 million.

24/7 Real Media offers online advertising technology to publishers.

"As we continue to move toward break-even operating results, it has become clear that we are effectively executing on our turnaround strategy," said 24/7 Real Media CEO David J. Moore. Created by the merger of Real Media and 24/7 Media last fall, the company has struggled during the difficult online advertising climate.

Sunra Managing Director Joseph W. Waechter said the company should be helped by a turnaround in the interactive advertising market.

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24/7 Real Media Raises $5 Mil.

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