Published:
Online Marketing Solutions Provider, [x+1], Secures $16 Million in Funding
NEW YORK, May 28 /PRNewswire/ -- [x+1], http://www.xplusone.com, the
leader in predictive online marketing, announced today that it has secured $16
million in venture funding led by Advanced Technology Ventures (ATV), with
participation by current investors Hudson Venture Partners and Blue Chip
Venture Company. The investment will accelerate [x+1]'s developmental
initiatives in both media and website optimization as well as extend the
application of [x+1]'s patented Predictive Optimization Engine (POE) to paid
search and other market opportunities. Bob Hower of Advanced Technology
Ventures has also joined the [x+1] board of directors.
"[x+1] already has a record of achievements in helping major brands
improve their digital return on investment (ROI), and the new products in
pipeline are just as exciting," said Bob Hower, a general partner at ATV. "The
new round of funding will accelerate [x+1]'s release of these products to
market, and help marketers and their agencies improve online marketing
results."
Through the advanced Predictive Optimization Engine (POE), [x+1] provides
superior behavioral and predictive targeting techniques customized to target
the needs of each individual client. [x+1]'s proprietary digital marketing
solutions provide real-time, automated decision-making to increase the
productivity of each customer's interaction with online media and a marketer's
web presence.
"We are excited to have ATV as an investor, and to have Hudson Venture
Partners and Blue Chip Venture Company increase their commitments," said John
Nardone, CEO of [x+1]. "All three investors share our vision for digital
marketing leadership, and their support will allow us to invest in the
required people and new technologies."
About [x+1]
New York-based [x+1] provides predictive online marketing solutions that
equip online marketers with real time, automated decision making to improve
engagement and lift conversion rates in media and onsite. [x+1]'s solutions
simplify complex targeting in digital marketing and drive a greater return on
marketing investment. Some of the top companies in financial services,
telecommunications, online services and travel have significantly increased
message relevance, customer response and marketing ROI by using the services
of [x+1]. For more information, please visit www.xplusone.com.
About Advanced Technology Ventures (ATV)
Founded in 1979, Advanced Technology Ventures (ATV) is a bi-coastal
venture capital firm (Waltham, MA, andPalo Alto, CA) with more than $1.6
billion in capital under management. ATV works closely with entrepreneurial
teams in several technology markets, including software and services,
communications, IT infrastructure, clean technology, medical devices,
biotechnology, to build emerging-growth business ventures into market leaders.
With more than 25 years of experience, ATV has a proven track record of
success in helping to build strong, sustainable business enterprises. For more
information, please visit our Web site at www.atvcapital.com.
About Hudson Venture Partners
New York City-based Hudson Ventures is an early stage technology venture
fund, whose members have decades of experience in operating and advising
companies through various stages, including concept development, expansion,
public offerings, and mergers and acquisitions. Established in 1997, Hudson
Ventures has invested in over 30 technology companies both as a lead investor
and as a co-investor in syndicated venture financings. A few ofHudson's
recent successful investments include: webMethods (market capitalization:
$3.7B); Pathlight Technologies (sold to Advanced Digital Information Corp.);
i-Traffic (sold to Agency.com); and TechRx (the industry's leading provider of
prescription fulfillment software). Hudson Ventures is available on the Web
at www.hudsonventures.com.
About Blue Chip Venture Company
Blue Chip Venture Company is aCincinnati-based venture capital firm with
$600 million under management and investments in over 100 companies located
throughoutthe United States. As a partner with management, Blue Chip invests
in and helps management build privately-owned growth companies. The firm
invests in a range of industries with a concentration on enterprise software,
healthcare, technology infrastructure, and marketing and media services.
Investments are made in companies that are in the early and growth stages as
well as in companies that are more established and require expansion or
acquisition capital. Please visit www.bcvc.com.
Contact: Wendy Marx, Marx Communications (203-445-2850 or
wendy@marxcommunications.com)
SOURCE [x+1]
Copyright © 2009, PRNewswire
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Copyright © 2009, NewsBlaze,
Daily NewsTags: ,ADV,MLM,CPR,FNC,NY-[x+1]$16milFunding
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