RealTime IT News

RealNames Secures Extra $70 Million

RealNames Corp., the brainchild of British entrepreneur Keith Teare, has secured a third round of venture funding of $70 million.

RealNames has pioneered the Internet Keywords system which enables people to go direct to a company's Web page simply by typing a corporate, brand or product name in the browser. Companies pay to be listed.

The latest funding for the two-year-old company was led by Morgan Stanley Dean Witter Venture Partners and includes finance from Goldman Sachs Capital Partners, Bowman Capital, Access Technology Partners, MSD Capital, Robertson Stephens' Bayview Investors and the J & W Seligman New Technology Fund.

"The new level of funding reinforces investors' belief that RealNames is creating an essential piece of the Internet's infrastructure with unlimited potential," said president and CEO Keith Teare.

"The additional investment will help us continue our mission of ubiquity for Internet Keywords, complementing the adoption by major brands on the Web such as Barnes and Noble, eBay, Ford, and Specialized Bicycles among many others and working with Internet leaders MSN, AltaVista, The Go Network, LookSmart, Inktomi and Network Solutions."

Existing investors in RealNames also put in additional funds. They included: Draper Fisher Jurvetson, idealab! Capital Partners, Amerindo Investment Advisors, New Millennium Partners and Network Solutions, Inc.

RealNames is based in San Carlos, Calif.