Startup Arlene announces that in April it had raised funding from GITP Ventures, an investment firm led by entrepreneur Michael Puscar.
Arlene, an ad monetization platform built for publishers and advertisers, aggregates publisher supply and advertiser demand, creating a marketplace across advertisement placements.
According to Bob Reisenweber, Co-Founder of Arlene, the startup is expected to introduce its beta version in June.
Advertising platforms continue to be in the news as of late. Procter & Gamble, one of the world’s largest advertisers, recently aid the company will spend its ad dollars on platforms that don’t display content it deems harmful to its image. The company’s executives, in a direct approach to existing platforms, asked other advertisers to join in changing the industry.
Arlene has raised $250,000 in funding to date. The current round of investment also included funding from MathCapital and other undisclosed angel investors.
“Advertising is everywhere around us except in the XR space. With Arlene, that is about to change,” said Michael Puscar, founder and president of GITP Ventures.
Michael Puscar is also the Founder of Oiga Technologies. Earlier he had founded Yuxi Pacific, which was earlier acquired by a private equity firm.
Bob Reisenweber earlier worked as an Investment Banker at UBS, after graduating from the Wharton School.
“As we develop a platform to help scale and monetize the XR industry, we’re excited to partner with GITP Ventures and Oiga Technologies,” added Bob Reisenweber, co-founder of Arlene.
“GITP Ventures provides our business with capital and strategic resources, while Oiga adds expertise in machine learning and big data that will help take our technology to market.“