RadiumOne Inc., the digital ad network that leverages the social web to deliver advertising performance through its patent-pending ShareGraph™ technology, today announced it has closed a $21m (£13m) Series B funding round led by Crosslink Capital. DFJ Esprit also participated in the round along with previous investors Adams Street Partners and Trinity Ventures, bringing total funding to $33.5m (£21m).
The latest funding round will primarily be used for international expansion and acquisitions. RadiumOne recently opened its UK office, and in the coming months will be launching in continental Europe and Asia Pacific.
The company, which reached profitability in Q4, will use its existing and new capital for potential acquisitions designed to give the company additional resources and tools to effectively scale.
“Our goal at RadiumOne is to use social data to change online advertising for the better, and make a positive measureable impact on advertisers and consumers,” said Gurbaksh Chahal, Founder and CEO of RadiumOne. “The ‘social evolution’ of the Internet has given us an opportunity to do this, and we feel we’re filling the void of socially-targeted advertising outside of Facebook. This latest round of funding will accelerate our growth, and allow us to make the moves that will truly establish RadiumOne as the pioneer in bringing social advertising to the open web.”
Since launching 18 months ago, over two hundred Fortune 500 brands have benefited from working with RadiumOne. Using its innovative ShareGraph™ technology, which analyzes how users communicate with their closest connections, RadiumOne identifies the specific consumers who are most likely to engage with a brand’s ads. As a result, advertisers achieve more efficiency and access to audiences unidentified by traditional behavioural targeting techniques.
“When we look at potential portfolio companies, we try to identify who has the technology and vision to really disrupt an industry and make a global impact,” said Jim McLean, partner at Crosslink Capital and new member of RadiumOne’s board. “We have seen it firsthand with companies like Pandora, and we know that RadiumOne will be extending that same disruption into the display advertising ecosystem.”
Krishna Visvanathan, Partner at DFJ Esprit, said: “Leveraging social data to improve online advertising is a truly exciting arena and we are pleased to be backing a company making a real impact in this space. After working with Gurbaksh on his last venture, I am delighted to be able to do so again and help drive RadiumOne’s European expansion.”
For more information on RadiumOne, visit http://www.radiumone.com.
About RadiumOne Inc. RadiumOne is the first online ad network to leverage social data on the Web. Using its innovative technology, RadiumOne can target all social and mobile applications, something that no other ad network can currently do.
Through leveraging social data on the Web, RadiumOne is able to identify relevant consumers that are aligned with a brand’s customer base, allowing brands to achieve unparalleled engagement and scale. RadiumOne was founded by online advertising pioneer Gurbaksh Chahal in 2009, and is based in San Francisco, CA. About DFJ Esprit DFJ Esprit is a leading cross-stage venture capital firm that invests in European technology companies. Members of the DFJ Esprit team have been active in technology investing for three decades.
They have experience of investing in over 200 companies, generating strong returns for investors through building valuable global companies alongside founders and management teams. The DFJ Esprit partners have invested and helped build many of Europe’s most successful venture companies of recent years, including LOVEFiLM, Apatech, Buy.at, Alphamosaic, KVS, CSR, Blackspider and Domantis. DFJ Esprit is the exclusive European partner for Silicon Valley based Draper Fisher Jurvetson (DFJ) Global Network of venture funds. DFJ Esprit invests across Europe and has partners located in London, Cambridge, Dublin, Helsinki and Paris.
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