Printer Friendly
The Free Library
22,728,043 articles and books

Predictive Networks Closes $45 Million in Series C Financing to Expand Targeted Content Delivery Network.



Business/Technology Editors

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

Networks

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 NASDAQ
 in full National Association of Securities Dealers Automated Quotations

U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on
: NTOP NTOP Nt Option Pack ), NetRatings (NASDAQ: NTRT), PSINet (NASDAQ: PSIX PSIX Port State Information Exchange ), Nippon Telephone and Telegraph (TSE See Tokyo Stock Exchange.

TSE

1. See Tokyo Stock Exchange (TSE).

2. See Toronto Stock Exchange (TSE).
: NTT NTT Nippon Telegraph and Telephone Corporation
NTT New Technology Telescope
NTT National Technology Transfer, Inc
NTT Name That Tune (TV game show)
NTT National Tree Trust
NTT Number Theoretic Transform
), the world's largest telephone company.

"The response we have received from these world-class investors is extremely gratifying grat·i·fy  
tr.v. grat·i·fied, grat·i·fy·ing, grat·i·fies
1. To please or satisfy: His achievement gratified his father. See Synonyms at please.

2.
," 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 See CDN. . 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 NYSE

See: New York Stock Exchange
: T), IDT IDT Integrated Device Technology, Inc. (Santa Clara, CA, USA)
IDT I Don't Think
IDT Identity Theft
IDT Interrupt Descriptor Table
IDT Integrated DNA Technologies
IDT Inactive Duty Training
IDT Instructional Design & Technology
 (NASDAQ: IDTC IDTC Interdeployment Training Cycle
IDTC Indefinite Delivery-Type Contract(s) 
) 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 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:
. 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 Name Location Founding date Managing Partners/Directors Specialty Capital managed
5AM Ventures Menlo Park, CA; Waltham, MA 2002 John Diekman, PhD (managing partner), Scott Rocklage, PhD (managing partner), Andrew Schwab (managing partner) life sciences $200M [1]
 in the information technology industry. Known for its successful investments in over 125 portfolio companies including Allegiance Telecom (NASDAQ: ALGX), Akamai Technologies (NASDAQ: AKAM AKAM Akamai Technologies, Inc. (stock abbreviation)
AKAM Automated Key Access Machine
), HNC Software (NASDAQ: HNCS HNCS Host Naval Computer System
HNCS Host Navy Combat Systems
), 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.
COPYRIGHT 2000 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2000, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Geographic Code:1USA
Date:Sep 26, 2000
Words:788
Previous Article:Stolt Offshore Reports Third Quarter Results.
Next Article:Most Web Sites Fail to Meet Minimum Standards; Sites Do Not Include Basic Components That Benefit Businesses and Their Customers.
Topics:



Related Articles
Predictive Networks Strengthens Management Team, Establishes New Headquarters; Company Adds Three Vice Presidents and Controller To Senior Team.
AT&T Employs Predictive Networks' Intelligent Content Delivery Service Within New WorldNet Service i495 Offering.
AT&T Employs Predictive Networks' Intelligent Content Delivery Service Within New WorldNet Service i495 Offering.
Predictive Networks Selects Akamai's FreeFlow Service.
Predictive Networks, Inc. To Appear On Alexander Haig's World Business Review TV Series.
Articulent Provides Storage Management Services To Predictive Networks; Articulent's Storage Expertise Protects Client's Most Critical Asset -...
Predictive Networks Expands U.S. Operations for Network-Based Targeting and Personalization; Opens Development Center in Los Angeles and Sales Office...
Predictive Networks Selects Exodus to Provide Hosting for Network-Based Targeting and Personalization.
Predictive Networks Announces Two New Executive Appointments.
Akamai Updates Financial Guidance; Company to Hold Investor Call Today at 5:00 p.m. EST.

Terms of use | Copyright © 2014 Farlex, Inc. | Feedback | For webmasters