DataSphere Raises $8 Million to Further Accelerate Growth of Local Advertising Services
Bellevue, WA - DataSphere Technologies, one of the fastest-growing online marketing companies in the US, has raised an $8 million series D round of funding. First Analysis, a leading private growth equity investor joined existing investors including OVP Venture Partners and Ignition Partners in funding the round. The investment will be used to expand service offerings and sales capacity, continuing DataSphere’s rapid growth in the $100 billion US local advertising market.
DataSphere’s content solutions, local targeting technology and sales capabilities now reach over 50 million unique visitors with ads targeted across 1,900 neighborhoods. DataSphere also delivers millions of dollars in bottom line profits to its media partners.
“With its leadership position in local online marketing and broad range of technology and sales capabilities, we believe DataSphere is in a unique and powerful position to capitalize on the ongoing disruption in local advertising,” said Howard Smith, Managing Director, First Analysis. “Local businesses are facing an increasingly complex marketing environment and DataSphere’s ability to reach and service these businesses in a simple and effective manner will be an important contribution to the evolution of this space.”
“Local marketing is experiencing a massive shift as both consumers and businesses move online, “ explained John Connors, Partner at Ignition Partners. “We see DataSphere as providing the next generation platform to manage the exploding number of online marketing options in a way that’s appropriate and effective for local businesses that cannot afford their own marketing staff.”
“We’ve been very impressed with the growth and development DataSphere has demonstrated over the past year,” said Lucinda Stewart, Managing Director at OVP Venture Partners. “With the team, plan and resources they have in place we’re looking forward to their continued rapid progress.”
“DataSphere’s dramatic growth trajectory is a reflection of the value it provides to over 100 media partners and tens of thousands of local advertisers,” noted Satbir Khanuja, CEO of DataSphere. “With our content solutions, local targeting technology and sales capabilities helping local businesses build their brands and reach new customers, and compelling profit increases delivered to our partners, DataSphere has the skills and momentum to dramatically improve the way local businesses harness online marketing. We are thrilled to have First Analysis join us on this exciting journey and will benefit greatly from their extensive experience and domain expertise.“
DataSphere Technologies, Inc. (www.DataSphere.com) is one of the fastest-growing online marketing companies in the US. The company helps local businesses raise their visibility, convert more customers, and gain a competitive edge with custom marketing packages. Services include exclusive association with leading local media brands, the Web’s largest local coupon network, custom video ads, Facebook integration, mobile marketing, email campaigns and more. DataSphere’s platform also offers content and sales solutions to major media companies, including Gannett, Meredith Corporation, Raycom Media, Local TV LLC, Fisher Communications and Hubbard Broadcasting, helping them create and monetize services specifically designed for small business advertisers.
First Analysis (www.firstanalysis.com) is a leading private growth-equity investor. It has one of the longest records (26 years) in private capital investing and has invested about $700 million. First Analysis invests mainly in the United States with a focus on its three sectors of expertise: broadband enabled businesses (IT applications and outsourced services), health care productivity, and clean-tech / infrastructure. It invests for expansion and growth in small and mid-size companies with established business models, high internal growth rates, and large-market leadership potential. The firm is typically the lead investor in its portfolio companies, investing up to $15 million, and it has a number of established co-investor relationships.