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Raw Hide! The Sheriff Attracts $30 Million From Euro Investors

[Melbourne, AUSTRALIA] Web metrix firm Red Sheriff announced the completion of its third round of funding Friday, raising over AUS $30 million from Deutsche European Partners, managed by U.K.-based Morgan Grenfell Private Equity.

In a nutshell:

  • Name: Red Sheriff
  • Headquarters: Level 7, 10 Queens Road, Melbourne, VIC, AUSTRALIA
  • URL: http://www.redsheriff.com
  • Industry: Web Metrix
  • Talent: Andrew Jarrett, CEO; Richard Webb, COO; Yee Han Cheong, CTO; L.O.Sim, Global Operations Director; Emma Stanborough, CFO; Vivienne Feyen Global Marketing & Communications Director; Matthew Pettit Director Business Development; Tony Eustace Global RedMeasure Chief ;Shefik Bey Global RedGauge Chief
  • Products: RedMeasure, RedGauge, RedSense, RedEffect, SharpShooter
  • Market: current clients include Ninemsn, Fairfax
  • Funding: AUS $30 million + from Deutsche European Partners, managed by UK-based Morgan Grenfell Private Equity. Earlier rounds WPP Group Plc., Equity Partners (AUS $5 million back in April 2000) and the Australasian Media & Communications Fund ("AMCF").

"Red Sheriff is one of the few Australian new economy e-companies to have successfully expanded its business on a truly global scale. We intend to employ funds raised from this round to substantially expand our product offering and continue our global expansion efforts with a move into the U.S. next month," said Red Sherrif joint CEO Richard Webb.

Red Sheriff's flagship products RedMeasure and RedGauge have been rolled out in 25 markets. However, Red Sheriff will relocate its headquarters to New York as part of its entrance strategy into the U.S. market next month.

"We put the round out there and had a lot of interest from about eight VCs," said Vivienne Feyen Red Sheriff global marketing and communications director. "We explored all options and (Deutsche Morgan Grenfell) had the global coverage we need."

Feyen also said Morgan Grenfell's backing will be invaluable when Red Sheriff files for IPO next year.