Savveo raises $2M to fill the world’s unmarked space with advertising

Advertising opportunities are everywhere, and OverstockAds.com has just raised $2 million in its first round of funding to help make sure no space goes untouched.

OverstockAds.com is a portal where small business owners can find discounted advertising opportunities. With this latest investment, the founders will establish Savveo, Inc, which will expand upon OverstockAds.com’s offerings.

Savveo will be a marketplace that connects small business owners with advertising opportunities. According to cofounder Steve Villa, the world spent $450 billion in local advertising in 2011, and while the market is massive, it is unorganized. By aggregating and categorizing all the offline ad inventory and putting it online, the company strives to make the process of real-world advertising more efficient.

Savveo will provide consolidated view of all the ad space available in a particular region, across radio, television, print media, mail, billboards and more. The site will provide comparative tools to help advertisers make strategic decisions and all purchasing can be done online. Business owners will also have access to comparative and tracking tools to monitor the success of their campaigns.

Investors include Tim Biltz, the chairman of Savveo’s board of directors and the CEO of Lumos Networks; Sayoko Teitelbaum, a cofounder of Toura; Simon Clark, a senior partner at Engine UK; David Jones, the CEO of Peak 10; and BayCrest Capital, along with others.

Savveo, Inc is expected to launch later this year and is billed as “The best thing to happen to advertising since Don Draper.”

I will overlook the fact that Don Draper is a fictional character who had little to no impact on the world of advertising.