comScore Secures $15 Million Funding Round
Financing to accelerate web audience measurement firm's drive to increase market penetration.
Web audience measurement firm comScore Networks, Inc., has closed a $15 million Series C round of financing led by Adams Street Partners, a recently formed private equity firm in Chicago that was formerly Brinson Partners' Private Equity Group and which invested in the Reston, Va.-based comScore's previous Series B round.
Also participating in the round were other existing comScore investors Accel Partners of Palo Alto, JP Morgan Partners/ Flatiron Partners of New York, Institutional Venture Partners of Palo Alto and Lehman Brothers Venture Fund. The total capital raised to date by comScore in three rounds of financing is $57 million.
comScore's new funding will allow the company to continue an aggressive sales and marketing effort behind its suite of data-based services.
The company provides a confidentially captured, 360-degree view of the surfing behavior of more than 1.5 million opt-in Internet users, while simultaneously capturing detailed and continuous information about their online and offline purchases.
Armed with information from comScore's integrated database, clients can gain a understanding of their customers' online buying behavior, and correlate online product research and comparison-shopping with online and offline buying behavior.
Tom Berman of Adams Street Partners, who will be joining the comScore board of directors, said, "We're delighted to lead this round of financing. We've been extremely impressed by the unique portfolio of services that comScore has built, but even more impressed by the revenue traction that the company has achieved in such a short period of time. I personally look forward to working with the other comScore directors and the company's management team in the continued building of a world class company."
Magid Abraham, comScore's President and CEO, added, "We are delighted by this vote of confidence from these blue chip investors, especially in this difficult financing environment. This round is a testament to the unique assets that we have built, the outstanding client response we have garnered and, last but not least, to our scalable business model which is squarely focused on helping real companies leverage the power of the Internet."
Reprinted from dc.internet.com.