RealTime IT News

IQ.com Secures $9.25 Million in New Funding

Online sales promotion firm IQ.com secured $9.25 million in a second round of funding led by Knight Ridder Ventures.

Other investors include current shareholder Brentwood Venture Capital as well as first time backing from Arbor Investors.

Steven Rossi, senior vice president of operations at Knight Ridder, will join IQ.com's board of directors. "Sales promotions and loyalty programs for the Web are widely recognized as being the next wave to break over the Internet space," said Rossi. "Not only is IQ.com ahead of the pack, but it has developed superior technology and product offerings that are already at work in the real world."

"IQ.com is the first outsourcing partner to focus on making the e-marketer's job easier, which gives it a huge advantage in the exploding e-business market space," said Jeff Brody, partner, Brentwood Venture Capital.

IQ.com's products allow marketers to conduct and manage their online promotions in house and create an on-going, professional promotional presence on their own site, their affiliates' sites, or anywhere on the Web they advertise. Merchants log onto the IQ.com service to create and deploy a variety of sales promotions including instant savings, sweepstakes and mini-storefronts.

Pricing is based on the cost per click model and ranges from $.05 - $.40 depending on volume. All results are tracked in real time using a closed loop system.