Conducent Technologies Inc., a provider of advertising software solutions, said it has raised $2 million in equity funding to finance its marketing programs and technology development.
The private placement was led by the Nexus Group of San Francisco.
“We are very pleased to be working with Nexus; they have been very active in promoting Conducent and
the AdGateway service, and in helping us leverage Nexus’ extensive industry
contacts,” said Conducent’s chief financial officer, Daniel P. Cunningham.
Conducent’s AdGateway service is designed to allow software
developers the ability to incorporate dynamic advertising within their
software applications. Conducent’s media tools are
integrated and provide developers, publishers and media buyers with complete
real time reporting and performance monitoring.
Conducent began distribution of its client solutions in August.
“The growth we have experienced during the third
quarter demonstrates a strong underlying need, among software developers and
distributors alike, to leverage a large installed base of PC users who have
traditionally been “beyond the reach” of the Web,” said Martin Schoffstall, president and
CEO. “Our technology solutions allow these businesses to target and reach their best customers 100% of the time.”