RealTime IT News

Conducent Raises $2 Million in Equity Funding

Conducent Technologies Inc., a provider of advertising software solutions, said it has raised $2 million in equity funding to finance its marketing programs and technology development.

The private placement was led by the Nexus Group of San Francisco.

"We are very pleased to be working with Nexus; they have been very active in promoting Conducent and the AdGateway service, and in helping us leverage Nexus' extensive industry contacts," said Conducent's chief financial officer, Daniel P. Cunningham.

Conducent's AdGateway service is designed to allow software developers the ability to incorporate dynamic advertising within their software applications. Conducent's media tools are integrated and provide developers, publishers and media buyers with complete real time reporting and performance monitoring.

Conducent began distribution of its client solutions in August.

"The growth we have experienced during the third quarter demonstrates a strong underlying need, among software developers and distributors alike, to leverage a large installed base of PC users who have traditionally been "beyond the reach" of the Web," said Martin Schoffstall, president and CEO. "Our technology solutions allow these businesses to target and reach their best customers 100% of the time."