Existing Investors Austin Ventures, Sierra Ventures and Shasta Ventures Participate in Series C Round
AUSTIN, Texas – June 30, 2010 – Click Forensics®, Inc., a leading provider of online advertising and audience verification solutions, today announced that it recently closed a $6 million Series C funding round led by Austin Ventures with participation from Sierra Ventures and Shasta Ventures. The funding will help support Click Forensics as it expands development and marketing of new offerings designed to help brand advertisers and agencies verify online audiences and optimize investments for display advertising campaigns.
“The $22+ billion a year market for display advertising is only expected to grow as marketers continue to pour money into automated advertising and audience delivery systems,” said Thomas Ball, partner, Austin Ventures. “As a leader in the space, Click Forensics is an ideal partner to help ensure that the audiences brands buy are indeed what they paid for.”
Since 2006, Click Forensics has provided audience verification solutions for top online marketers, advertisers, agencies, publishers and ad networks in the cost-per-click market. In February of this year, the company announced a beta program for its display ad verification platform, bringing the same level of transparency and accountability to the display ad market. Click Forensics has amassed data on billions of ad impressions and clicks, which it uses to refine and develop sophisticated machine-learning algorithms that filter unwanted audiences and measure the value of audiences that view ads. The company’s SaaS offerings are ideally suited to meet the scalability and performance demands of real-time impression filtering and audience verification.
“The need to verify online audiences has increased greatly as the number of brokers that operate in between the advertiser and the ad impression continues to grow,” said Paul Pellman, CEO of Click Forensics. “The continued support of our investors will allow us to develop new solutions that better protect and improve the performance of online advertising.”
For more information on joining the Click Forensics, visit http://www.clickforensics.com. Follow us on Twitter: @ClickForensics.
About Austin Ventures
Austin Ventures (“AV”) has worked with talented entrepreneurs to build valuable companies for over twenty-five years. With $3.9 billion under management, AV is the most active venture capital and growth equity firm in Texas and one of the most established in the nation. With an investment focus on Internet and information services, software, new media, business services and supply chain, and financial services, AV invests at all stages of company development, from $100,000 in “planned experiments” in early-stage ideas to $100+ million investments in expansion rounds, minority recapitalizations, and buyouts of lower middle market growth companies. AV’s strategy is to partner with talented executives and entrepreneurs through its CEO-in-Residence and Entrepreneur-in-Residence programs. Visit austinventures.com for more information.
About Sierra Ventures
Sierra Ventures, founded in 1982, is a privately held venture capital firm focused on investments across all areas of the Information Technology sector from semiconductors to enterprise software. Sierra Ventures has managed nine venture capital partnerships and currently has more than $1.5 billion of capital under management. Some of the firm’s investments include 360Commerce (acquired by Oracle), Active Software (acquired by WebMethods), AmeriGroup (AGP), Authentec (AUTH), Centex (acquired by WorldCom), ConvergeNet (acquired by Dell), FatBrain (acquired by Barnes & Noble), Frontbridge (acquired by Microsoft), Healtheon (merged with WebMD), Interact Commerce (acquired by Sage), Intuit (INTU), Micromuse (acquired by IBM), OnAssignment (ASGN), OnLink (acquired by Siebel), Quinta (acquired by Seagate), StrataCom (acquired by Cisco), Sourcefire (FIRE), Sychip (acquired by Murata Manufacturing) and Teradata (acquired by NCR). More information is available at http://www.sierraventures.com.
About Shasta Ventures
Shasta Ventures is an early-stage venture capital firm investing in technology-enabled businesses serving consumers and enterprises. Located in Menlo Park, Calif., Shasta Ventures manages $460 million. Shasta was formed in 2004 by venture capital veterans and invests across consumer and business services, infrastructure and software. For more information on Shasta Ventures, please visit www.shastaventures.com.
About Click Forensics, Inc.
Click Forensics® is the industry leader in online ad verification and traffic quality improvement for the online advertising community. Click Forensics provides audience verification and traffic quality management solutions for leading online search and display advertisers, agencies, publishers and ad networks, including companies such as Progressive Insurance, GenieKnows, Adknowledge, eZanga, Moxy Media, Turn, Traffic Engine, Vegas.com and many others. The company also regularly publishes industry data on online advertising audience quality. Click Forensics is headquartered in Austin, Texas, and is privately held with funding from Sierra Ventures, Austin Ventures, Shasta Ventures and Stanford University. More information on Click Forensics and its offerings is available at www.ClickForensics.com.
Click Forensics is a registered trademark of Click Forensics, Inc. All other company and product names mentioned are used only for identification and may be trademarks or registered trademarks of their respective companies.