@Ventures Funds Invests $5 Million in Aureate Media
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Aureate Media Corp., which provides software publishers with ad-supported distribution channels, services, and technology, has secured a $5 million investment from @Ventures, the venture capital arm of Internet holding company CMGI Inc.
Aureate Media provides users with "leading edge software" while providing advertisers with a highly targeted marketing channel for integrated ads. Competitors include Conducent, which recently did a deal with eGames.
"Software is an incredibly 'sticky' form of content that sits on a user's desktop for hours at a time -- making it a very valuable commercial medium," said Ehren Maedge, president and CEO of Indianapolis, IN-based Aureate Media.
"We enable publishers to offer consumers best-of-breed software which typically carries a hefty price tag and, in so doing, we have aggregated 5 million pre-qualified and highly desirable consumers that advertisers are very eager to reach."
David Nerrow, general partner with @Ventures, said more than 150 software programs have been attracted for the Aureate Network and a number of network advertisers have also signed on.