Experiencing 100% Y/Y Growth in Audience Targeted Campaigns as Display Advertising Remains Flat
New York—October 20, 2009—Online advertising leader AudienceScience has secured $20 million in venture capital funding from Silicon Valley firms Mohr, Davidow Ventures; Mayfield Fund; Meritech Capital Partners; and Integral Capital Partners. The new capital will be directed against initiatives to accelerate growth, including important employee additions, research and development against core targeting products, and international expansion.
Since introducing audience based targeting in 2003 AudienceScience has powered over 50,000 campaigns worldwide and is the eleventh largest online advertising network in the US. AudienceScience has experienced 100% growth through the first three quarters of 2009 and is solidly profitable. The Company’s performance in the face of a struggling online ad market in 2009 demonstrates the value behind its audience targeting solutions. The new funding will enable further expansion of AudienceScience’s industry leading audience targeting marketplace and strengthen its offerings to brand advertisers, premium Website publishers, and select online advertising networks.
“The commitment from our investors speaks to their confidence in our position in the online advertising industry, as data-driven audience based advertising has invigorated the market,” said Jeff Hirsch, President and CEO of AudienceScience. “We are excited that the company will have further means to leverage our leading technology and industry relationships to aggressively extend our market presence - both in the US and internationally.”
blast! PR on behalf of AudienceScience