The funding was led by Kepha Partners alongside existing investors Atlas Venture, Egan-Managed Capital, CommonAngels and Mass Technology Development Corporation.

OwnerIQ will use the cash to develop its New York-based sales operation and enhance its media-buying platform.

Jay Habegger, the firm’s founder and CEO, said: “We are thrilled to have Kepha as an investor as we are with the ongoing commitment of our existing investors. The very high level of interest we received in this finance from the investment community is a testament not only to our significant revenue growth and stable of top brand advertisers, but the unique nature of our offerings and how well we are positioned to capitalise on the growing demand by advertisers to reach the right consumers at the right time.”