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Lotame Receives Multi-Million Dollar Series a Financing in a Round Led by Battery Ventures
Feb 11, 2008 (08:02 AM EST)
NEW YORK, Feb. 11 /PRNewswire/ -- Earlier today, Lotame Solutions closed a multi- million dollar Series A round of financing led by Battery Ventures, with participation from existing investors Hillcrest Management and Betaworks. Lotame is a company that focuses on providing the most advanced revenue solutions exclusively within social media. It aggregates intelligence across multiple social networking sites, which allows advertisers to build the most targeted and customizable audiences, and gives publishers the ability to monetize their inventory more effectively to garner higher streams of revenue.
The success of online advertising can no longer be measured by simple click-thru rates and conversions. Behavioral targeting has become the new industry standard, however, most of the tools available were created for static publishers and are not effective for the evolving world of user- generated content. Lotame is changing the game with its cutting-edge Crowd Control Technology. It optimizes behavioral targeting by capturing previously unavailable data based on engagement, which is inherent to social media. This data intelligence, coupled with a completely customizable audience that is re-targetable for future campaigns, places Lotame at the forefront of the industry.
"We are in a unique position because we deal exclusively with social media, and our business model is based on being an aggregator of intelligence across multiple social networks," said Andrew Monfried, Founder & CEO of Lotame. "We differ from others in the industry because we share all of our data and knowledge with our clients before, during, and after we deliver campaigns. Lotame prides itself on making our clients smarter. This approach allows our advertisers to maximize ad spend and ROI, while allowing our publishers the opportunity to convert remnant inventory into premium inventory."
"The depth of information and knowledge Lotame can provide, offer insights never available before," said Taylor Valentine, Account Group Supervisor, Horizon Interactive. "They have the ability to create and customize campaigns which truly drive results for clients."
"Lotame has a unique business model, offering clients a sophisticated way of managing inventory strategically to help monetize your social network," said Cyril Zimmermann, CEO of Hi-Media Group which owns Fotolog, the largest publicly-owned social media network.
Roger Lee and Satya Patel, both of Battery Ventures, will become Lotame's newest board members.
"Social media is growing at a rapid rate, and we are excited to be partnering with a company that we feel is leading the industry with the most advanced means of targeting and monetization," said Battery's Patel, who spent a number of years in product management for Google's AdSense as well as at DoubleClick. "The Lotame team has the pedigree, vision and technology to help advertisers and publishers harness the true potential user-generated content has to offer."
As the premier aggregator of intelligence within social media, Lotame's goal is to make our clients more knowledgeable about how to effectively target and monetize user-generated content. Our advanced technology allows our partners to build the most targeted and customizable audiences available in the industry, while our business model focuses on providing them with the highest stream of monthly revenue.
Lotame was founded by seasoned Internet advertising executives from Advetrtising.com and Yahoo, and has offices in New York and Maryland. For more information please visit www.lotame.com .
About Battery Ventures
Since 1983, Battery has been investing in technology and innovation worldwide. The firm partners with entrepreneurs and management teams across technology sectors, geographies and stages of a company's life, from start-up and expansion financing, to growth equity and buyouts.
Battery has supported many breakthrough companies around the world, including: Akamai Technologies, Cbeyond, LIFFE (acquired by EuroNext), Neoteris (acquired by Netscreen) and Omniture. Its current Internet and Digital Media portfolio includes Bazaarvoice, Freewheel Media, Spot Runner, Trial Pay and World Golf Tour.
From offices in Boston, Silicon Valley and Israel, Battery manages nearly $3 billion in committed capital, including its current fund of $750 million. For more information on the firm and its clean tech portfolio, visit www.battery.com .
Betaworks is an operating and investing company that focuses exclusively on web based media, data services and revenue technologies. The company was founded by John Borthwick and Andrew Weissman, and is headquartered in New York City. For more information please visit www.betaworks.com .
About Hillcrest Management
Hillcrest Management, LLC is a private investment organization that invests its own money and resources into local, national, and international businesses. In business since 2006, Hillcrest is passionate about the companies we invest in. We work closely with our portfolio businesses on the business plan execution, modeling and planning, and in the assignment of management professionals and specialized resources for each business niche. For more information please visit www.hillcm.com .
CONTACT: Anthony Rapacciuolo of Lotame, +1-646-670-6110, Anthony@lotame.com
Web site: http://www.lotame.com/ http://www.battery.com/ http://www.betaworks.com/ http://www.hillcm.com/