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Martini Media raises Series A funds

This affluent-ad network has raised an undisclosed amount of funding and hired a new CEO to target rich people.

Martini Media Network, an advertising network that caters to the affluent, said Monday it has raised an undisclosed amount of Series A funding.

The company also announced that it hired Skip Brand, chief revenue officer at Pudding Media and a former advertising and business development employee at Yahoo, Cox Communications, and Excite@Home, to take the reins as CEO.

"Martini Media targets high net-worth individuals through lifestyle pursuits such as polo and yachting, letting luxury and premier brands connect with these elusive consumers online," Brand said in a statement. "I look forward to working alongside the entire team at Martini Media to help continue the company's success and drive new growth."

Martini Media wouldn't disclose the amount of the funding it raised but said it will be used to expand its operation. The ad network hosts a network of sites that range from golf to equestrian sports.

But becoming the de facto leader in the affluent-ad network market may not be such an easy task. The company is competing with the likes of Halogen Publishers, which boasts a network with 3 million unique visitors. And Martini Media must also be hoping that during turbulent economic times, advertisers will still want to target people with significant amounts of disposable income.