Ad Software Firm Receives $3 Million in Funding

Online advertising software developer FatTail Inc. received a $3 million round of financing from an investment firm specializing in digital media and communications. Woodland Hills-based FatTail will use the money from Velocity Interactive Group to develop and launch new sales optimization software products to be available next year. Partners in Velocity Interactive include former AOL Chief Executive Jonathan F. Miller and former Fox Interactive Media President Ross Levinsohn, with participation by Ted Meisel, former Overture CEO and former president of Yahoo! Search Marketing. Levinsohn will join FatTail’s board of directors. “We are thrilled with our new partners,” said FatTail CEO Steve Pelletier. “The industry knowledge and insight they provide is immeasurable and will help us tremendously as we execute on our vision.”