Funding in Brief: $10M for Spongecell, $8M for Prolexic
ADOTAS – Rich media ad company Spongecell has raised $10 million of funding in a Series B round. Safeguard Scientifics led the round, which brings Spongecell’s total funds raised to about $14 million. Previous investors to date include Google executive chairman Eric Schmidt, Raptor Capital’s James Pallotta and Bob Pittman’s Pilot Group.
Spongecell creates display ads with interactive functions, including video and social feeds, and like a lot of similar firms, it’s particularly gung-ho about video at the moment. Though it was reportedly struggling financially just a few years ago, CEO Ben Kartzman has cited revenue growth in 2011 of more than twice its 2010 revenue (which was $3.8 million, and Kartzman hasn’t given a specific figure to the 2011 total).
The funding will, according to Kartzman, go towards expanding existing product lines and adding new ones, while building up Spongecell’s staff.
Distributed Denial of Service (DDoS) protection services company Prolexic Technologies announced it’s raised $8 million in funding. Camden Partners led this round. This comes after two funding rounds in 2011, both led by Kennet Partners, netted the company $15.9 million. Camden Partners principal Jason Tagler also joins Prolexic’s board.
DDoS protection ties into a business’ continuity and disaster recovery plan, and Prolexic is rising in that niche. In a statement, CEO Scott Hammack cited 55 percent growth in the last quarter alone, and he pointed out that since the company was profitable in 2011, it didn’t technically need the funding.
According to Prolexic, the new funding will go towards building up its staff, network and services.
Reader Comments.
No comments yet
Leave a Comment
Article Sponsor
More News
- Coverage of Microsoft’s Xbox Reveal Drives Spike in Adotas Readership
- Does Mobile Display Even Work? How Geo-Location and Cross-Platform Ads Will Change the Game
- Upcoming Event and Conference Calendar
- From the Twitterverse: Gamers Hate On Xbox One
- Brands & the Next Internet Wave: What You Need To Know
Spotlight
Funding in Brief: $10M for Spongecell, $8M for ProlexicADOTAS – Rich media ad company Spongecell has raised $10 million of funding in a Series B round. Safeguard Scientifics led [...] more...
Latest News
- Coverage of Microsoft’s Xbox Reveal Drives Spike in Adotas Readership May 22nd 2013 ADOTAS – Yesterday, just prior to Microsoft’s press conference introducing [...] more »
- Does Mobile Display Even Work? How Geo-Location and Cross-Platform Ads Will Change the Game May 22nd 2013 ADOTAS — The potential of mobile advertising is huge. And [...] more »
- Upcoming Event and Conference Calendar May 22nd 2013 ADOTAS – Here’s a snapshot of upcoming industry events. Further [...] more »
- From the Twitterverse: Gamers Hate On Xbox One May 21st 2013 ADOTAS – Microsoft has unveiled Xbox One, its next-generation entertainment [...] more »
- Brands & the Next Internet Wave: What You Need To Know May 21st 2013 ADOTAS – For brand managers and marketers, the Internet has [...] more »
- Blogshare: Why Tumblr Will Make Yahoo Billions May 21st 2013 ADOTAS (via WordStream) — Here’s why I think Yahoo is [...] more »
- Study: Xbox Reveal Sparks More Social Buzz than Galaxy S4 and Facebook ‘Phone’ Combined May 21st 2013 ADOTAS — The new Xbox gaming console, which will be [...] more »
Features
- Does Mobile Display Even Work? How Geo-Location and Cross-Platform Ads Will Change the Game May 22nd 2013
- Brands & the Next Internet Wave: What You Need To Know May 21st 2013
- Blogshare: Why Tumblr Will Make Yahoo Billions May 21st 2013
- Preview: What’s Happening at Internet Week New York 2013 May 20th 2013
- Video from the Westchester Digital Summit May 17th 2013
-
Loading ...
Reader Favorites
Classifieds
- Client Relationship Manager
- Print and Web Manager
- SEO Marketing PPC Specialist
- Marketing Summer Internship at Clean-Tech Educatio
- Service Line Manager - Digital Media
Recent Comments
- Coverage of Microsoft’s Xbox Reveal Drives Spike in Adotas Readership: [...] The live video post was the third most read article of the day, followed
- Coverage of Microsoft’s Xbox Reveal Drives Spike in Adotas Readership: [...] most popular article of the day was our live #XboxReveal Twitter feed, which ran
- Coverage of Microsoft’s Xbox Reveal Drives Spike in Adotas Readership: [...] live video post was the third most read article of the day, followed by
- Coverage of Microsoft’s Xbox Reveal Drives Spike in Adotas Readership: [...] prior to Microsoft’s press conference introducing the Xbox One, we posted the results of
