Tag Archives: Bessemer Ventures
Millenial Media Raises $16 Million In Series C
Millenial Media is a mobile ad network that competes with AdMob. AdMob was recently acquired by Google for $750 million in stock. Millenial Media is based in Baltimore, Maryland and raised $16 million in Series C for New Enterprise Associates, Bessemer Venture Partners, Columbia Capital, and Charles River Ventures.
Millenial will use the funding to help push the company past profitability, grow overseas, hire additional talent, and build more technology. Given that Google already spent a ton of money on a mobile ad network it seems uncertain what Millenial’s exit strategy will be.
Delivery Agent Raises $25 Million In Fourth Round
Delivery Agent is an advertising platform company that designs applications for publishers to sell entertainment products. The company recently raised $25 million as they help build “click-to-buy” applications for selling products centered around 125 major entertainment properties. The company now has a total of $60 million in funding.
“We launched the market for shopping-enabled entertainment when we made it possible for television viewers to go online and buy things related to their favorite shows. Today, as so much entertainment content becomes and is available on other platforms, our expanded commerce and marketing technology will make it possible for our entertainment partners to reach, influence and transact with audiences wherever and whenever they happen to be watching premium content, whether through their television, mobile phone, online video player or whatever else is next,” stated Delivery Agent Mike Fitzsimmons in a press release.
This round of funding was led by Focus Ventures. Other investors include T-Venture, Coral Group, Ironwood Capital, Bessemer Venture Partners, Worldview Technology Partners, and Cardinal Venture Capital.
Yodle Raises $10 Million Series C From JAFCO, DFJ, and Bessemer Venture Partners
Yodle is a startup that provides local online advertising across search engines and other web real estate. Yodle is based in New York and has raised $10 million Series C from JAFCO Ventures, the DFJ Growth fund, Draper Fisher Jurvetson, and Bessemer Venture Partners.
Yodle started in 2005 and reports that they have increased 700% in annual revenue compared to 2007. The run rate for their fourth quarter in 2008 was about $30 million. Yodle has about 9 people in staff in 2006 and now they have 250 people. The company has over 5,000 customers. They had 125 in 2006. The company expects to make a profit in about six months.
Yodle helps small businesses advertise their products on search engines and Yodle will track and optimize the ads. This includes the clickthrough rates, phone calls, and click per action rates. Yodle has their customers grouped into different sectors such as Beauty & Personal Care, Business & Professional, Health & Medical, Home & Garden, and Travel & Lifestyle.
Yodle was founded by Nathaniel Stevens. He currently serves as the VP of Media Operations. Stevens started the company while he was attending Wharton School at University of Pennsylvania. Stevens was accepted into the Venture Initiation Program, UPenn’s incubation initiative. Yodle’s first round of funding was $3 million by Bessemer Venture Partners. Yodle’s second round of funding was $12 million and provided by Bessemer Venture Partners and DFJ. This gives Yodle a total of $15 million.
[via TechCrunch]
Flock Brings In $15 Million To Enhance Social Network Browsing
“We are thrilled to close this significant round of financing,” stated Shawn Hardin, CEO of Flock. “Following the tremendous market response to Flock’s commercial release, this new funding will enable us to continue our browser innovation – making engagement and participation across social networks and the Web as effortless as consumption.”
Flock is an open source social networking browser built around other open source layout engines. Flock was created using Javascript, DOM, XUL, and XPCOM. Yesterday Flock announced that they have raised $15 million in Series D funding. The funding was provided by Fidelity Ventures, Bessemer Ventures, Catamount Ventures, and Shasta Ventures.Â
With the new round of funding, Flock plans to expand business for R&D, marketing, and expansion. Flock stated that this round of funding was higher than prior investments and that revenue has risen 400% since Jan. 2008. And Flock’s user base increased by 250% since Jan. 2008.
Information Source:
[1] Flock Press Release