Spot Runner Races to $40m

Spot Runner Inc., a Los Angeles-based Internet ad agency for local businesses, has raised $40 million in Series C funding. New backers include WPP, CBS Corp., Interpublic Group, Allen & Co. Tudor Inv*stment Corp., media executive Lachlan Murdoch and financier Vivi Nevo. Return backers include Index Ventures and Battery Ventures. www.spotrunner.com