RealTime IT News

Be Free Gets $25 Million in Second-Round Financing

Marlborough, MA-based affiliate marketer Be Free Inc. said it has received $25 million in a second round of venture capital financing from Highland Capital Partners, Charles River Ventures, Matrix Partners and TTC Ventures.

Be Free also has added General Partner Daniel J. Nova of lead investor Highland Capital Partners to its board of directors.

"The growth of affiliate sales channels is exploding," said Gordon Hoffstein, president and CEO of Be Free. "With this round of venture funding. . .we will increase our service offerings, invest in product development, enhance our system infrastructure and acquire the relevant technology to meet the evolving needs of our clients."

"As the Internet continues to evolve, online retailers will increasingly rely on affiliate programs to generate sales, and Be Free will have the technology and services to meet that growing need," said Nova.

Tracking more than 200,000 affiliates across its sales channels, Be Free clients include barnesandnoble.com, GeoCities, American Greetings, Egghead.com, Electronic Newsstand and Reel.com. Affiliate sites earn commissions for each product sold through the affiliate referral sales channel.

Affiliates can enroll in affiliate programs using Be Free's technology with FastApp, located here. The company's product offerings include the BFAST affiliate sales channel technology and the BFIT targeted advertising delivery system.