RADIUMONE CLOSES SERIES B VENTURE ROUND; BRINGS TOTAL FUNDING TO $33.5 MILLION
Crosslink Capital Leads Round to Support Growth of Social Ad Network through Acquisitions
SAN FRANCISCO, CA - March 10, 2011 - RadiumOne Inc., the revolutionary digital ad network that leverages the social web to deliver superior advertising performance through its patent-pending ShareGraph™ technology, today announced it has closed a $21 million 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 $33.5 million.
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 that traditional behavioral targeting techniques miss.
"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."
For more information on RadiumOne, please visit www.radiumone.com.
RadiumOne is the first online ad network to leverage social data on the Web. 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.