ContextWeb Closes $15.5 Million Series C of Funding.Draper Fisher Jurvetson Draper Fisher Jurvetson (DFJ) is a venture capital firm based in Menlo Park, California with affiliate offices in more than 30 cities around the world and over $4.5 billion in capital commitments. Leads Round to Fuel New Product Development NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- ContextWeb, a leading provider of high-precision, real-time contextual advertising solutions, today announced that it has closed a $15.5 million Series C round of funding. "We had a lot of interest in the company and received numerous good financing proposals," said Anand Subramanian, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of ContextWeb. "We chose Draper Fisher Jurvetson ("DFJ DFJ Dysfunkshun Junkshun (Austin, Texas band) ") as our partner to lead the round for their market expertise and track record in creating sector leading companies." All of the existing investors in the Company, which includes DFJ, DFJ Gotham Ventures, Updata Partners and DFJ New England, also participated. This round of funding, combined with two previous rounds brings ContextWeb's total equity investment to date to more than $27.5 million. John Fisher, Managing Director of DFJ, commented that ContextWeb is leveraging unique, proprietary and scaleable technology to bring dramatic improvements to web-based ad targeting. Mr. Fisher added, "ContextWeb is already making a big difference to content providers and advertisers alike in a fast-growing and important market. We are very excited to have the opportunity to help the ContextWeb team build a substantial company." In conjunction with the financing, John Fisher from DFJ has been appointed to ContextWeb's Board of Directors. Existing members of the board include Anand Subramanian, CEO of ContextWeb; Shanthini Sarkar Sarkar could mean:
SVP Senior Vice President SVP Schweizerische Volkspartei (Swiss People~s Party) SVP Society of Vertebrate Paleontology SVP Social Venture Partners SVP St Vincent de Paul Operations of ContextWeb; Ross Goldstein, Managing Director of DFJ Gotham Ventures; Conor Mullett, general partner of Updata Partners; and Bill Wise, CEO of Did-It. ContextWeb will use the latest round of financing to fund the rapid growth of its patent pending, real time, contextual advertising solution, ContextAd, and to allow development of several exciting new advertiser based products. According to a study by eMarketer, online contextual ad spending in the U.S. will generate $450 million in 2006 and grow to a $1 billion market by 2008. Nielsen Media Research reports that internet ad spending in Q1 '06 was up 49% compared with the same period in 2005. Online advertising is expected to overtake magazine advertising in 2007, when total online ad spending hits $13.8 billion. These figures indicate a significant growth opportunity for ContextWeb. "With this round of funding, ContextWeb is well positioned to release additional products as well as to continue to grow its innovative products and services. We are very excited to have John Fisher on our board to help take the Company to the next stage," said Anand Subramanian, CEO of ContextWeb. "I look forward to positioning ContextWeb as a significant force in the on-line advertising industry." About Draper Fisher Jurvetson Draper Fisher Jurvetson is the only venture capital firm with global presence through a network of affiliated funds, with offices in more than 30 cities around the world and approximately $4 billion in capital commitments. DFJ's mission is to identify, provide capital for, and serve extraordinary entrepreneurs anywhere who want to change the world. Over the past twenty years, DFJ has been proud to back approximately 300 companies across a myriad of sectors including such industry changing catalysts as Hotmail (acquired by MFST MFST Mobile Field Surgical Team MFST Mobile Forward Surgical Team (USAF) MFST Microbiologically Food Safety Tested MFST Mobile Freight Search Team (UK) ), Baidu (BIDU), Skype (acquired by EBAY), United Online (UNTD), Overture (acquired by YHOO YHOO Yahoo! Inc. (NASDAQ symbol) ), Interwoven in·ter·weave v. in·ter·wove , in·ter·wo·ven , inter·weav·ing, inter·weaves v.tr. 1. To weave together. 2. To blend together; intermix. v.intr. (IWOV), 411 (acquired by YHOO), Parametric (PMTC PMTC Prevention of Mother to Child Transmission (of HIV/AIDS) PMTC Pacific Missile Test Center PMTC Professional Multimedia Test Center ), and Digidesign (acquired by AVID). About ContextWeb Based in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , ContextWeb provides high-precision, real-time contextual advertising solutions guaranteed to maximize the results and impact of online advertising. ContextWeb's patent-pending ContextAd is the industry's only real-time and fully automated solution that can serve contextually relevant advertisements to the most motivated potential customer in as little as 20 milliseconds. ContextAd uses both categories and keywords for analysis and matching, delivering unprecedented accuracy, dramatically extending audience reach and significantly increasing sales conversion rates. Additional information on ContextWeb can be found at www.contextweb.com |
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