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Travel Ad Network raises $15 million VC fund; plans to enter India

US-based Travel Ad Network, which sells online advertising across more than 50 travel sites including LonelyPlanet.com, has raised $15 million in venture financing led by Rho Ventures and including Village Ventures and individual investors.

The company plans to use the funding to expand operations in US and abroad and increase the size of its network to 100 travel sites by the end of 2008 and to 1,000 in three years.

US-based Travel Ad Network, which sells online advertising across more than 50 travel sites including LonelyPlanet.com, has raised $15 million in venture financing led by Rho Ventures and including Village Ventures and individual investors.

The company plans to use the funding to expand operations in US and abroad and increase the size of its network to 100 travel sites by the end of 2008 and to 1,000 in three years.

According to Cree Lawson, founder and CEO, Travel Ad Network, the company plans to grow to 75 to 100 employees by the end of 2008, up from almost 30 currently. Much of the hiring will be focused on building up its sales force and expanding overseas in Europe, India, China and South Africa, reports MediaPost.

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