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Magnetic Secures $5 Million Total VC Investment Led by Charles River Ventures, Ron Conway, and NYC Investment Fund
NEW YORK, NY, Jun 16, 2010 (MARKETWIRE via COMTEX) --
Magnetic (www.magnetic.is), the leading search data marketplace,
today announced total venture capital investment of $5.25 million.
The Series A $4 million round was led by Charles River Ventures, Ron
Conway and NYC Investment Fund. Previous investors including Founder
Collective and IA Capital Partners also participated in the latest
financing. Magnetic will leverage new capital to further build its
core search re-targeting technology and expand with new solutions for
advertisers and marketers that bring synergy to display media and
search data. With this latest investment, Magnetic has the resources
to push forward on its mission to make search re-targeting easy for
all types of media buyers.
Magnetic also unveiled a new option for advertisers to buy display
media targeted with search data to reach consumers anywhere on the
purchase funnel online. Magnetic can now run search re-targeted
campaigns for advertisers and agencies. Advertisers have full control
of search keywords used for targeting audience intent during a
campaign and also what type of media to serve the ad. Magnetic buys
media from ad networks and demand side platforms (DSP), who also
continue to buy data from Magnetic to serve advertisers. Magnetic's
deeper integration with partners gives it access to a wide range of
inventory through premium sites and through ad exchanges. Its data
marketplace remains open for the general online advertising
ecosystem, where data buyers continue to apply search data to reach
customers most likely to purchase.
"From the many ad technology companies we evaluate, Magnetic stands
out from the rest because of its larger vision for the potential of
search data. As advertisers struggle to couple display media with
search, no one else has been able to apply this for the wider online
ad ecosystem," said Saar Gur, partner, Charles River Ventures. "While
others are content to let the SEM spend stay within the search
engines, Magnetic has created a powerful technology to harness search
data outside the search engine environment."
By coupling quality media inventory from its partners with search
audience data, Magnetic is creating a powerful combination.
Advertisers can build brands with target audiences when it counts,
when customers are in purchase mode. Magnetic maximizes the
efficiency of media by serving ads on brand name publishers only when
people are searching for products. Because display campaigns on top
quality media command higher CPMs, Magnetic offers an affordable and
easy way to conduct brand marketing by only buying media with target
customers who have expressed intent to buy.
"Online marketing is confusing for some advertisers, as well as
digital and SEM agencies, and a few will want to work with Magnetic
directly to target media with search data. This will drive revenue
back to our ad network and DSP data buyers, from which we now buy
media," said Josh Shatkin-Margolis, CEO and founder of Magnetic. "A
majority of advertisers will still buy directly from ad networks,
DSPs and publishers, and we want to make sure marketers have a
choice. No matter what the channel, we want to make it easy for any
advertiser to run search re-targeting campaigns."
As an added benefit, Magnetic's offering gives search engine
marketers and agencies an easy entry into display advertising. With
search engine marketers understanding how to buy keywords, they can
work with Magnetic to manage keywords and buy media with search data
through one channel. Magnetic offers more branding and marketing
options with search re-targeting than are possible with traditional
SEM on the major search engines.
Magnetic has pioneered the practice of search re-targeting -- using
search as the key indicator of intent and reaching audiences outside
of the search engine while they are in the purchase funnel. It
operates the fastest growing search data marketplace with more than
270 million profiles. Its advanced self-service interface and
algorithms makes it easy for display advertisers to work with search
data, exposing the full power of SEM to the wider online ad
ecosystem.
About Magnetic
Magnetic(TM) makes search re-targeting easy. The
Magnetic data marketplace empowers advertisers and publishers to use
search data as the key indicator of intent and re-target campaigns to
the most relevant audience online. With more than 270 million search
profiles, Magnetic significantly lifts the value of media and
improves campaign performance. Magnetic's advanced technology
provides the largest payment to search data providers. It is the
search data partner of choice for more than 90 leading agencies, ad
networks and DSPs. Magnetic is headquartered in New York, funded by
investors including Charles River Ventures, Ron Conway, NYC
Investment Fund, Roger Ehrenberg of IA Capital, Founder Collective
and NYC Seed. For more information visit: www.magnetic.is.
Contact:
Kimberly Dixon
Horn Group, Inc.
646.202.9775
kdixon@horngroup.com
SOURCE: Magnetic
mailto:kdixon@horngroup.com
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