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SAN MATEO--- Brand.net Secures $10 Million in Series B Funding |
| 8/26/2008 @ 8:45 AM
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Brand.net, the first online advertising network focused exclusively on brand advertising, today announced completion of its Series B round of funding. The $10 million financing was led by Norwest Venture Partners (NVP) with reinvestment from InterWest Partners. The company will use the investment to fund technology innovation for its expanding customer base and accelerate its growing leadership position in the online brand advertising industry.
Led by a team of brand advertising industry experts with decades of online publisher experience, Brand.net is transforming the way brand advertisers and agencies achieve value online. Leveraging deep expertise and proprietary technology, Brand.net delivers compelling inventory quality, value and scale – the three core drivers of successful online brand campaigns. Leading Fortune 100 companies trust Brand.net to deliver excellence without compromise supported by a written guarantee for all online campaign objectives.
“Brand advertising is the biggest growth opportunity online,” said Robert Abbott, General Partner, Norwest Venture Partners, who will be joining Brand.net’s board of directors. “With its experienced team and proprietary technology, Brand.net is well-positioned to capture substantial market share and financial returns. We are very excited about the Brand.net value proposition.”
“We are delighted to join the Norwest family,” said Elizabeth Blair, CEO of Brand.net. “This is the most exciting time in the history of online brand advertising. The entire Brand.net team is committed to delivering compelling value to brand agencies and advertisers, and looks forward to driving continued business growth and success for them in the future.”
About Brand.net
Brand.net is the first online advertising network focused exclusively on Brand advertising. The company combines decades of industry expertise with technology innovation to deliver unparalleled quality, value and scale to brand advertisers and agencies. Brand.net works with leading global brands to optimize buying strategies, secure superior inventory and achieve core campaign objectives without compromise. Headquartered in San Mateo, California, Brand.net was founded in 2007 and has offices in New York, Chicago and Los Angeles. For more information, please visit: www.Brand.net.
About Norwest Venture Partners
Norwest Venture Partners (NVP) is a global venture capital firm that has actively partnered with entrepreneurs to build great businesses for more than 45 years. NVP focuses on investments in information technology including: Internet, media and consumer, software, services, enterprise and communications systems and semiconductor/components. The firm currently manages more than $2.5 billion in venture capital out of its headquarters in Palo Alto, California and has funded over 450 companies since inception. For more information, please visit www.nvp.com.
About InterWest Partners
InterWest Partners (www.interwest.com), founded in 1979, is a leading diversified venture capital firm focused on building long-term relationships with entrepreneurs and portfolio companies. Currently investing its tenth fund, IW X, a $650 million fund, InterWest has raised more than $2.8 billion of capital since inception. InterWest has 14 investing partners in Menlo Park, CA and Dallas, TX, who bring together deep domain knowledge in life sciences and information technology. |
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