Lifeminders.com Secures $10.6 Million in Venture Financing
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LifeMinders.com Inc., a provider of free, sponsored e-mail reminders and tips, completed a $10.6 million round of financing led by ABS Ventures.
Other financing participants were U.S. Trust, FBR Technology Partners and Novak Biddle Venture Partners.
The LifeMinders.com service launched last January with 10,000 members, and now claims more than 750,000.
"This recent round of financing enables us to continue our aggressive membership growth and to strategically expand our category offerings," said Stephen R. Chapin Jr., founder and CEO of LifeMinders.com. "The support we continue to receive from our investors strengthens our ability to make LifeMinders.com the leading infomediary on the Internet."
"LifeMinders.com has experienced tremendous growth since it began offering its LifeMinders services," said Phil Black, general partner of ABS Ventures. "Steve and the LifeMinders.com management team are redefining the direct e-mail marketing business and are fast becoming a leader in this growing and important industry."
LifeMinders.com members can currently provide profiles in seven categories that include Autos, Families, Entertainment, Home, Personal Events, Personal Finance and Pets, with categories in Health and Travel to come soon. The company then sends a set of personalized e-mail "Minders," brief, informative messages based on a member's unique profile direct to a member's e-mail address.
Other key advertisers include The Home Depot, First USA, a subsidiary of Bank One Corp. and Jiffy Lube, a subsidiary of the Pennzoil Co.