Bizo said the funding would be used to invest in product development and additional sales and marketing staff.
Investors in this round of funding were led by Bessemer Venture Partners. Existing investors Ascent, Venrock and Vulcan also participated.
Bizo said it has grown its b-to-b audience network to more than 45 million targetable businesspeople per month and that this year it has increased revenue by more than 500% and added more than 50 advertising clients and 300 publisher sites.
“These funds will allow us to keep pace with the growing demand for targeted online marketing to business professionals,” Russell Glass, Bizo CEO, said in a statement.