Announcing Parsec’s Seed Funding

Parsec is proud to announce seed funding from investors including Bee Partners; WGI Group; BlueTree Venture Fund; Brett Wilson, CEO of TubeMogul; J Moses, co-founder of UGO; Dan Wallace, CEO of FirstKey and venture partner at Conversion Capital; Brendan Spain VP of Advertising, Americas at the Financial Times; Ernest Lupinacci, founder at Anomaly and Steve Christian, co-founder of Kapanlagi. The total amount raised was $1.5 million.

Parsec is the only platform to charge for media based on the amount of time that consumers choose to spend with ads. Our first format, Sled, is focused on the mobile web.

“Direct response advertisers use the click as a proxy for success, but brand advertisers have never really had a true success metric to call their own, and finding the right metric for brands has actually proven a fairly hard problem to solve,” said Jonah Goodhart, CEO of Moat. ”Parsec’s time-based product could have an explosive impact on brand advertising, similar to what CPC buying did for direct response advertising in the early 2000s.”

Since launching last summer Parsec has worked with brands represented by all of the six major holding companies including Colgate, Dell, BMW, GE and Discover Card.

“The power of Parsec’s platform is consistency and simplicity — we pay for the amount of time that people choose to spend with our brands and that’s it,” said Tim Mosback, VP, Partner, Integrated Investment at Universal McCann.

All Parsec media is sourced directly from top tier publishers. Parsec uses politely interruptive ad experiences where the reader controls the duration of exposure; the attention delivered to advertisers isn’t incentivized, forced or otherwise adulterated.

“Time-spent is an amazing metric,” said Parsec CEO, Marc Guldimann. “The amount of time that a person chooses to spend with an ad can be used to transact media more efficiently as well as measure creative and audience strategies more precisely than ever before.”

Parsec partners with over a quarter of the comScore 100 to help monetize their mobile web audiences using politely interruptive ads sold on a cost per second metric. Our marketplace is the first to align the interests of publishers, platforms and brands around showing people ads they want to spend time with.

Parsec was founded in 2014 by industry veterans from Google and Spongecell and is based in New York City. For more information on Parsec, visit http://www.parsec.media or email go@parsec.media