Online ad company Advertising.com Inc.
this week received a total of $57 million in new
funds from a group of investors, led by
Reuters Group, PLC.
In addition to Reuters , Advertising.com says it has
received strategic investments from America
Online, Inc. , ad giant WPP Group PLC
,
WorldCom Venture Fund, Grotech Capital Group, New Enterprise Associates
(NEA), Blue Chip Venture Capital Company Ltd., Wheatley Partners, Credit
Suisse First Boston Private Equity, and Access Technology Partners, LP, an
affiliate of Chase Capital Partners.
Advertising.com offers a range of technologies for targeting consumers
through the Internet, desktop, and wireless products. The company, which
claims 5,000 Web sites in its network, uses both the CPM model and the
cost-per-click (CPC) model. Advertising.com also offers an optimization and
database technology, called AdLearn, and has e-mail marketing capabilities.
This sizeable new investment, and the resources of Advertising.com’s new
financial backers, signifies the company’s intention to be a major player in
the online advertising industry. Until now, it has been overshadowed by
companies like DoubleClick, 24/7 Media,
and Engage.
The participation of AOL in this funding round is also
interesting, since the ISP giant has not, until now, had an ownership stake
in an advertising network.
“This financing will provide Advertising.com with the resources to move more
rapidly toward becoming the leading provider of integrated Internet-enabled
marketing solutions,” said Scott Ferber, co-founder and CEO of
Advertising.com.
“With extensive backing from key partners, Advertising.com is sure to
experience continued growth and advancements in all our product offerings,”
he said.
