NEW YORK, NY -- (Marketwire) -- 03/24/11 -- Legolas Media (www.legolas-media.com), a next generation audience marketplace, today announced that it closed $5 million in Series B venture capital funding. Led by Valhalla Partners, a Venture Capital firm with deep experience in the digital advertising market, this new funding enables the company to expand services and better serve its existing client base. The funding round also included participation from Legolas Media's current investors, Greylock Partners and Blumberg Capital. As part of the funding, Kiran Hebbar from Valhalla Partners will be joining the Legolas Media board.

The Legolas solution, a next generation marketplace, is enabling direct, guaranteed and 'futures' like audience trading between digital media buyers and premium publishers. Agencies and Advertisers utilize the Legolas platform to build proprietary audience segments and target them across a range of integrated publishers. The platform deploys an innovative technology for budget allocation and price optimization.

Legolas is redefining audience trading by removing friction between buyers and sellers. The transparent and guaranteed buying process is aligning publishers against marketers' objectives. It is also an enabler of creative format freedom and cross-channel digital marketing which are paramount for the success of digital ad campaigns.

"We are very interested in the Legolas team and the opportunity. The idea of a marketplace where brand advertisers can deliver high value campaigns with premium inventory and targetable audience is a winning idea. Yoav, Ran, and Yiftah are a strong experienced team with great advertising roots, and their target market is a rapidly growing segment with buyers who are not afraid to try new solutions. Valhalla is pitching in to help this team succeed," said Kiran Hebbar, Partner at Valhalla Partners.

"With this round of funding, we will make the innovative Legolas Marketplace even more compelling for online advertisers and publishers while driving great results," said Yoav Arnstein, co-founder and CEO at Legolas Media. "At the same time, we plan to expand our team to support the innovations and features demanded by our rapidly growing customer base and partners."