NEW YORK, January 15, 2014 (ADOTAS) — Real-time email advertising company LiveIntent — one of the fastest-growing, privately held companies in the US — today announced the closing of its $20 million Series C round of funding (including $10 million in growth capital).
The fundraising follows a fast-paced trajectory. Last year, the company tripled revenues and doubled its staff. In response to their growth, LiveIntent moved to larger offices in Lower Manhattan in December.
Bullpen Capital led the company’s latest funding round with participation from Alpha Capital, Valor Capital, and Brazilian investors VR. All major Series A and B investors participated, including Battery Ventures, First Round Capital, and Shasta Ventures. Escalate Capital provided growth capital debt financing.
The financing will be used to fuel LiveIntent’s rapid pace of growth while further cementing LiveIntent’s position as the only company that can leverage real-time decisioning and programmatic buying to unlock the power of artificial intelligence and big data for predictive optimization in the email channel.
Publishers use LiveIntent’s proprietary technology to monetize newsletter and alert inventory by presenting highly targeted and relevant advertising to individual subscribers when they open their email. LiveIntent delivers this capability through predictive modeling of dozens of variables including device, operating system, newsletter category, reader geo-location, time of day, demographic, and first- and third-party data. Predictive modeling improves engagement and transaction rates for advertisers and drastically increases publisher yield while improving the consumer experience.
“Thanks to the same technologies used to optimize display, search, social and mobile advertising, LiveIntent consumers receive a timely and relevant ad on open,” said Paul Martino of Bullpen Capital. “This allows advertisers and publishers to buy and sell this valuable inventory as easily as any other media category.”
LiveIntent’s customers include 500 premium publishers, many of the world’s largest household consumer brands, and their agency partners. LiveIntent technology reaches more than 55 million consumers each month and its reach is on pace to double in 2014.
“This latest investment in LiveIntent affirms the critical role our company is playing in proving that email is no longer about sending email,” said Matt Keiser (pictured), CEO of LiveIntent. “We are the only technology that enables advertisers to reach the nearly four billion active email users with real-time targeted ads, and we are delighted that Bullpen and such a distinguished group of investors share our commitment to innovation of the email ecosystem.”
LiveIntent’s premium client roster includes Meredith, CondeNast, McClatchy, The Wall Street Journal and AOL/Patch. In 2013, LiveIntent was #8 on Inc. Magazine’s ranking of the fastest growing, private companies in New York City and #71 nationally.
LiveIntent, the only company with a real-time display ad platform for email, operates at the intersection of potent secular trends: email everywhere, CRM, mobile, big data and artificial intelligence. LiveIntent works with advertisers, publishers, agencies, and any email-sending solution. Increasingly mobile consumers are spending more time on email then ever before and LiveIntent’s technology makes it possible to reach them with targeted advertisements. (http://www.liveintent.com/careers/) The company is venture-backed by First Round Capital, Shasta Ventures, and Battery Ventures, Bullpen Capital, Alpha Capital, Valor Capital, and VR, with debt financing provided by Escalate Capital. LiveIntent was founded in 2009 and is headquartered in NYC. For more information and a demonstration of the company’s technology in your own inbox, visit http://www.liveintent.com/audience/publisher/.