Predictive Networks Closes $45 Million in Series C Financing to Expand Targeted Content Delivery Network.
CAMBRIDGE, Mass.--(BUSINESS WIRE)--Sept. 26, 2000
Significant Investment will Accelerate U.S. Market Penetration and
Expand Internet-Based Technology to Broadband, Cable T.V., Wireless
Predictive Networks, a leading provider of web infrastructure-based solutions for highly targeted, cross-network advertising and marketing, today announced that it has closed its third round of funding totaling $45 million, bringing the firm's total funding to date to over $54 million. Predictive Networks will use the funds to bring its artificial intelligence-based technology to additional networks such as wireless and cable television; increase its penetration of the U.S. electronic advertising market; and formally establish its market presence in Japan and Europe.
Advent International, one of the world's largest private equity investment firms, and Battery Ventures, a leading venture capital firm and the principal investor in Predictive Networks' series B financing round, co-led the round. Additional investors included C. E. Unterberg Towbin, Net2Phone (NASDAQ: NTOP), NetRatings (NASDAQ: NTRT), PSINet (NASDAQ: PSIX), Nippon Telephone and Telegraph (TSE: NTT), the world's largest telephone company.
"The response we have received from these world-class investors is extremely gratifying," said Michael Skarzynski, chief executive officer of Predictive Networks. "With their support, we'll be able to build out The Predictive Network quickly and efficiently, and meet the growing worldwide demand for our unique technology."
"What pleases me most about this financing round is that it further validates our vision - the development of an intelligent, cross-network approach to targeting and content delivery," added Devin Hosea, president and founder of Predictive Networks.
"At Advent, we look for companies with the potential to outperform their industry and own their market space," said Doug Kingsley, a managing director in Advent International's Boston, MA office. "Predictive Networks' intelligent content delivery system has the potential to do that and more. Quite simply, this company has the ability to change the way advertising is conducted on the Internet and across different types of networks, including wireless and cable television."
As the single largest investor in Predictive Networks, Battery Ventures believes in Predictive Networks' vision. "We feel that Predictive Networks is poised to dominate the new market of personalized network communications," said Todd Dagres, general partner at Battery Ventures. "The company has what it takes to succeed in this market - an exceptional management team, first-class technology and a winning business model."
About The Technology
Utilizing advanced artificial intelligence-based technology and adhering to a 100% opt-in policy, Predictive Networks analyzes subscribers' click-stream data to develop a Digital Silhouette(TM) - an in-depth understanding of each subscriber's individual interests and characteristics, identifiable only by an anonymous ID number. Predictive Networks uses Digital Silhouettes to match content and advertising to appropriate subscribers. Once the click-stream data is analyzed it is discarded. As a result, subscribers receive information that appeals to their current needs and interests, without compromising their privacy.
About Predictive Networks
Predictive Networks is a leading provider of highly targeted, personalized content delivery services. The company's patent-pending artificial intelligence technology and network infrastructure make it possible for advertisers and other content providers to reach their desired audiences with unprecedented levels of precision. In delivering its services the company partners with service providers, enabling them to generate additional revenue by delivering high-value, high-margin services such as e-commerce. Predictive Networks is privately held. The company's channel partners include: AT&T WorldNet(R) (NYSE: T), IDT (NASDAQ: IDTC) and PSINet (NASDAQ: PSIX). Predictive Networks, Inc. is located at 689 Massachusetts Avenue in Cambridge, Massachusetts. For more information please call 617-575-4700 or visit the company's web site at http://www.predictivenetworks.com.
About Advent International
Advent International is a leading global private equity firm with $4 billion in capital raised and 100 investment professionals operating from offices in 16 countries. The firm invests in Europe, North America, Asia and Latin America through a series of private equity and venture capital funds. Since its founding in 1984, Advent has financed over 500 companies in diverse industries, with an emphasis on telecommunications, software and information technology services, media, specialty chemicals and pharmaceuticals, and business services. More than 120 of Advent's portfolio companies have completed initial public offerings. For more information visit Advent International at http://www.adventinternational.com.
About Battery Ventures
Founded in 1983, Battery Ventures is one of the leading venture capital firms in the information technology industry. Known for its successful investments in over 125 portfolio companies including Allegiance Telecom (NASDAQ: ALGX), Akamai Technologies (NASDAQ: AKAM), HNC Software (NASDAQ: HNCS), Infoseek, FORE Systems and Qtera, Battery Ventures has an established reputation for identifying companies with significant potential and shaping strategies to grow them into market leaders. The Partnership manages six individual funds with $1.8 billion of committed capital. For more information visit Battery Ventures at http://www.battery.com.
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|Date:||Sep 26, 2000|
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