April 15, 2009
Investment Firm, PRE Ventures Leads $6.25 Million in Series B Financing for Pontiflex
The Brooklyn based online advertising creator, Pontiflex has announced the closing of $6.25 million in series B funding with PRE ventures leading the funding and all existing investors participating. Pontiflex’s participating investors are New Atlantic Ventures and Greenhill SAVP. The mission of Pontiflex is to offer advertisers the ability to buy high quality advertising through brand specific banners and direct response ad units. Along with this financing, the principal of PRE Ventures, Eric Wiesen will also join the company’s board of directors.
According to Mr. Wiesen, the trends in online advertising is quite clear and Pontiflex is at the vanguard in providing the right technology to meet the demand of advertisers having ad spends that generate significant return investments. Pontiflex’s emerging CPL model enables advertisers to achieve their performance advertisement goals. Further more, since the last round of series A funding, Pontiflex has experienced a colossal growth rate with major advertisers, such as Kimberly Clarke, Gold’s Gym, and eFax; along with ad agencies like Universal McCann, Leapfrog, Interactive, and RUF all leveraging Pontiflex to generate guaranteed revenues from their branding and direct ad campaigns.
The rapid growth that Pontiflex is experiencing coincides with the emergence of performance advertising as the fastest growing sector of the online advertising industry. As far as the recently released 2008 IAB PWC is concerned, internet advertising along with performance based advertising is about 57% of all online advertising with the spending on online advertising to be about $23.4 billion, up from 51% in 2007.
New Atlantic Ventures is a vc firm that solely focuses on the IT industry and is based in Northern Virginia and Cambridge, Massachusetts. New Atlantic Ventures likes to focus its investments on companies and enterprises in high growth mass markets and plays an active role in the companies it invests in. New Atlantic likes to partner with entrepreneurs who have energy, vision, experience, and passion to build great companies. Some of the companies that New Atlantic Ventures has invested in are Artifact, Clear Methods, ContextWeb, Ember, Ftranse, Gate Rocket, Global Logic, Liquid Machines, Pine Labs, and others.
Greenhill SAVP is an early stage venture fund that likes to invest in the financial services, energy, and telecommunications industries. Entrepreneurs who are seeking investments from Greenhill must meet certain criteria, which are entrepreneurs or businesses that have a unique, yet proven business model in the middle markets and the entrepreneurs must have a focused and driven management team. Greenhill SAVP manages several private equity funds which have raised over $1.3 billion in capital and is well known globally with offices in London, New York, Frankfurt, Toronto, Dallas, San Francisco, Tokyo, and Chicago.You can click on the link here to find out more about Pontiflex.