RealTime IT News

RealTIME Media Receives $8.5M in Equity Financing

Online promotional agency RealTIME Media Inc. received an $8.5 million round of financing from a consortium of firms led by Safeguard Scientifics Inc.

Other financing participants include NewSpring Ventures, Ben Franklin/Progress Capital Fund, and Pennsylvania Early Stage Partners.

"Safeguard's commitment to RealTIME Media, Inc. speaks volumes about the power of our business model and our position as the leader in the design and implementation of instant-win prizes and incentive-based promotions over the Internet," said RealTIME Media's President and COO Scott Shapiro.

The company said the funds will help the firm further develop its infrastructure and sales and marketing organization as well as provide for a re-design and re-launch of the company's consumer game and prize portal, Prizes.com.

RealTIME clients have included Lycos, 4Anything.com, the National Football League, Microsoft, Yahoo!, Reader's Digest, CBS MarketWatch and First USA.