ThinkNear pulls in USD1.63 for local ad campaigns

ThinkNear, which provides local retailers with marketing campaigns, has raised USD1.63m from IA Ventures, with Google Ventures, Qualcomm Ventures, Metamorphic Ventures, FF Venture Capital and angels including David Tisch and David Cohen from TechStars and Matt Turck from Bloomberg Ventures. ThinkNear allows local merchants to promote their restaurant or other service with targeted banner campaigns at passers-by. The service is free for the first three months, with a USD99 charge per month thereafter. The LA-based company is led by Eli Portnoy, a former product manager at Amazon.

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