iSocket, provider of a programmatic direct and sales automation platform, has raised $5 million in new funding led by Time Warner Investments. The company's platform is built to simplify the buying and selling of fixed price, premium, reserved inventory. iSocket For Publishers (iFP) sales automation and programmatic direct tools allow publisher sales teams to focus on relationships and strategy, while iSocket For Advertisers (iFA) makes it easier for agencies, brands, and buying and planning platforms to execute orders of well-defined, guaranteed inventory directly with publishers.
The new funds will be used primarily for polishing iFA and iFP and expanding capabilities to work with more partners on buy, channel and supply side. iSocket has now raised about $16 million in funding to date, including a $9 million round that valued the company at $40 million in 2012.