Triggit Raises $4.2MM Series A Led by Foundry Group and Spark Capital

PRESS RELEASE

Funding to expand internationally and support rapid growth.

SAN FRANCISO, California. –(June 24, 2010) Triggit, the leading developer of technologies for buying media using real-time bidding, today announced $4.2 million in series A funding from Spark Capital and Foundry Group. Seth Levine, Managing Partner at Foundry Group and Santo Politi, General Partner at Spark capital will be joining the board. Also participating in the round through the conversion of their previous investments are Brett and Scott Crosby, the founders of Urchin; Asher Waldfogel, the founder of Peakstream and Tollbridge Technologies; Ben Narison, founder of Fashionmall.com; Joe Spieser and Alex Zhardanovsky, founders of Epic Advertising; Gilad Elbaz, the founder of Applied Sematics; Reid Hoffman, the founder of Linkedin; TriplePoint Capital; DG Incubation; Joi Ito; Charles Sprincin; and Eric Stein. Triggit intends to use the proceeds of the round to support its continued rapid growth and to begin international expansion.

Triggit is at the forefront of a platform shift in online advertising. With the recent development of real time bidding and open exchanges, a transparent marketplace with over 15 billion transactions a day has emerged, enabling publishers and advertisers to easily buy and sell media. Triggit provides technology to advertisers buying on these real-time exchanges, enabling them to execute buys conducted in milliseconds, over 100,000 times per second. Triggit’s clients, including leading agencies and Fortune 500 marketers, use this technology to run advertising campaigns with unparalleled efficiency, scalability, transparency and effectiveness.

“We are delighted to have Seth Levine and Santo Politi joining the Triggit team,” said Zachery Coelius, CEO of Triggit. “Their experience and knowledge of the quickly changing online advertising space is second to none. It will be tremendously helpful to have them on our side as we try to keep up with the growth we are currently enjoying.”

“Real-time bidding is completely changing the advertising landscape. Advertisers and brand marketers need to align their approach with ROI-driven models, and they need to make smart buying decisions at warp speed.” Said Santo Politi General Partner of Spark Capital. “Triggit is giving advertisers the tools they need to succeed in this new era. Its self-service platform is the first to be built specifically for real-time bidding in media marketplaces, giving advertisers the ability to reach target audiences with precision -- and yield the best possible returns from their campaigns.”

"Triggit sits at the center of the shift in online advertising to more programmatic buying - leveraging the emerging real time bidding exchanges to allow advertisers unprecedented access to ad inventory," said Seth Levine, Managing Director of Foundry Group. "By giving advertisers tools to plan and onboard campaigns and the ability to leverage both first and third party data, Triggit has developed a powerful platform to allow advertisers to more effectively reach specific audience and run more effective campaigns."

About Triggit

Triggit is the leading developer of technologies for buying media using real time bidding.  Triggit works with innovative marketers and their agencies to deliver unparalleled scale, efficiency and effectiveness in media buying.   Based in San Francisco, Triggit is backed by Foundry Group, Spark Capital and industry angel investors.  For more information visit http://www.triggit.com

About Spark Capital

Spark Capital is a venture fund based in Boston, Mass. with investments focused on the conflux of the media, entertainment and technology industries. Over the last decade, Spark has been instrumental in the development of new markets and market leaders such as Akamai Technologies, Qtera, Aether Systems, Novatel Wireless, Twitter, 5Min, AdMeld, Verivue and Tumblr. With deep experience and $622 million under management, Spark Capital provides world-class entrepreneurs and revolutionary companies with the resources to succeed in today's marketplace. To learn more, visit www.sparkcapital.com.

About Foundry Group

Foundry Group is a venture capital firm focused on investing in early-stage information technology, Internet, and software startups. In addition to providing the necessary venture capital to get a company up and running, Foundry Group is committed to leveraging their experience in starting and growing companies, expertise in the technology industry, and network of relationships to help great entrepreneurs turn great ideas into great companies. Foundry Group is based in Boulder, Colorado, and invests in companies located across the United States. For more information, visit www.foundrygroup.com.

 

Add a comment

XHTML: You can use these tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>