ContextWeb Closes $3 Million in First Round of Funding; Names Board of Directors.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 -- 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. Gotham Lead Investor in Rapidly Growing Contextual Advertising Contextual advertising is the term applied to advertisements appearing on websites or other media, such as content displayed in mobile phones, where the advertisements are selected and served by automated systems based on the content displayed by the user. Company ContextWeb, Inc., a leading provider of high precision, real-time contextual advertising solutions, today announced at Interactive Advertising World (booth #120) that it has successfully completed a $3 million first round of venture funding led by Draper Fisher Jurvetson ("DFJ DFJ Dysfunkshun Junkshun (Austin, Texas band) ") Gotham Ventures, with additional funding by DFJ New England New England, name applied to the region comprising six states of the NE United States—Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, and Connecticut. The region is thought to have been so named by Capt. and DFJ California. ContextWeb also announced the establishment of a Board of Directors assembled to help further support the company's growth and development. The funding and newly minted Board of Directors come as the company launches its contextual advertising solution, ContextAd, which will dramatically enhance the ability of advertisers to deliver highly targeted messages to potential customers in real-time. A recent study by the analyst firm META Group predicted that the contextual advertising market will reach $5 billion by 2006. "Contextual advertising is enjoying unprecedented growth because it allows companies to reach interested customers at the time that the prospect is researching a purchase and can guide the buyer to the point of sale," commented Janice McCallum, a senior analyst with the research and advisory firm Shore Communications. "Technology solutions that provide better targeting for advertisers and more relevant advertisements for a publisher's audience will improve the results from online advertising campaigns and are crucial to the continued success of contextual advertising." "Highly targeted marketing solutions that deliver on the true power of the Web represent an increasingly important segment of the overall Internet marketing See Internet advertising. category," said Chip Meakem, principal of DFJ. "ContextWeb offers a superior product set for this rapidly expanding market. We are excited to back this winning technology and team." The new Board of Directors will provide ongoing support and guidance as ContextWeb continues to grow. Board Members include Anand Subramanian, Chief Executive Officer; Jeremy Sterns, Chief Technology Officer; Chip Meakem, DFJ Principal; Scott Johnson Scott Johnson may refer to:
The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of MaxOnline. "We're extremely pleased with these two critical milestones," said ContextWeb founder and chief executive officer, Anand Subramanian. "The funding positions us to aggressively enter the marketplace and deliver our advertising and publishing customers a superior online advertising product and exceptional service. Additionally, our seasoned Board includes several highly accomplished individuals whose cumulative expertise and experience in this category and with emerging companies will be of substantial value as we scale ContextWeb. Both will help to fuel our strong growth." About the Investors DFJ Gotham, Draper Fisher Jurvetson and DFJ New England are members of the closely knit Adj. 1. closely knit - held together as by social or cultural ties; "a close-knit family"; "close-knit little villages"; "the group was closely knit" close-knit close - close in relevance or relationship; "a close family"; "we are all... DFJ Network. The network consists of independently managed early stage venture capital funds Venture Capital Funds An investment fund that manages money from investors seeking private equity stakes in small and medium-size enterprises with strong growth potential. Notes: , located in major cities throughout the world, with combined capital under management approaching $3 billion. Each member of the network has proven expertise in identifying and helping extraordinary entrepreneurs who want to change the world. Additional information on the Investors can be found at www.dfjgotham.com, www.dfj.com and www.dfjne.com. About ContextWeb Based in New York, NY, ContextWeb, Inc. 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 au·to·mate v. au·to·mat·ed, au·to·mat·ing, au·to·mates v.tr. 1. To convert to automatic operation: automate a factory. 2. solution that can serve contextually relevant advertisements to the most motivated potential customer in as little as 20 milliseconds. ContextAd uses both content 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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