I/PRO Raises $7 Million From Investors

Internet Profiles Corp. (I/PRO) in Redwood
City, CA said it has closed a $7 million round of private financing to
support the next stage of growth for the company, including the roll-out of
its online advertising management service, Dispatch.


In addition to a new investment from Foundation Capital, existing investors
participating in the financing round include Cognizant Enterprises, Gannett,
Hearst New Media, Interpublic Group of Companies, Nielsen Media Research,
SOFTBANK Technology Ventures, Sutter Hill Ventures, and Trident Capital.


“I/PRO has a unique market position with strong relationships among both
buyers and sellers of online media,” said Paul Koontz of Foundation Capital,
an early stage venture capital firm with $200 million under management. “This
positions I/PRO to deliver what the Internet sorely needs–a reliable end-
to-end system that enables ad agencies to easily do business with Web sites.”


The advertising agency services division of the company recently launched
Nielsen I/PRO Dispatch, an online campaign management system for agencies. By
automating key elements of the online media buying and tracking process,
Dispatch will help agencies save significantly on the costs of running
campaigns, I/PRO said.


“Our initial investment in I/PRO was an excellent one. The company has
achieved the position of the largest auditing and measurement service for the
Web. Its successful core business and innovative solutions have put the
company at the head of a rapidly growing industry,” said Dave Harkness of
Nielsen Media Research.


“This next stage is an important one for the company. As an existing
investor it made sense for us to reinvest allowing I/PRO to expand services
and take Web marketing to the next level.”

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