San Francisco – January 22, 2008 – Quantcast announced today that it has closed a Series B financing round with Founders Fund and Polaris Venture Partners. The financing provides the company with $20 million in new capital which will be used to support burgeoning demand for its direct-measurement audience service and related solutions.
Quantcast’s solutions enable buyers and sellers of online media to benefit from the promise of addressable, audience-based advertising.
“Quantcast is changing the way the media industry measures and identifies audience segments through a collaborative, direct-measurement platform,” said Quantcast co-founder and CEO Konrad Feldman. “Today we provide accurate and detailed audience information for millions of web destinations and these new funds will be used to extend our leadership position and deliver enhanced services to our Quantified Publishers and the broader industry.”
Quantcast enables any web publisher to “quantify” their media properties by participating in the Quantified Publisher program. This free program uses tags to assess entire audiences, combining directly measured traffic statistics with multiple panel data sources to generate highly accurate audience profiles. This approach to audience measurement solves a critical gap in the march to addressable advertising by offering fine grain audience profiles that can be used to segment and target advertising campaigns.
“Quantcast has rapidly emerged as the leading innovator in the direct-measurement space”, said Ken Howery, managing partner of Founders Fund*.* “Targeting and delivering specific audience segments will be the core theme that drives the evolving advertising business, and as such we’re incredibly excited that our first investment from our new fund, Founders Fund II, is in Quantcast.”
To date, over 20,000 publishers, representing millions of unique web destinations, have joined the Quantified Publisher program. Adoption of the program is accelerating and many brand name media organizations participate, including Fox, CBS, Belo Corporation, AccuWeather, Slide, and IDG. Traffic and audience profiles for over 20 million web destinations are accessible for free at www.quantcast.com and over 3 million people use the service every month to review and understand web audiences.
“For some time online publishers have had an acute need for more accurate audience measurement and analysis,” said Mike Hirshland, general partner at Polaris Venture Partners. “Through our digital media portfolio companies, including JibJab Media, Heavy, and WordPress, we’ve had a front row seat to observe the industry beginning to embrace Quantcast as the first and only truly accurate audience measurement service. We believe Quantcast is well on its way to becoming the ‘coin of the realm’ for online publishers and advertisers alike.”
Following the investment, Ken Howery of Founders Fund and Mike Hirshland of Polaris Venture Partners will join Quantcast’s Board of Directors.
Feldman noted, “Founders Fund and Polaris Venture Partners bring to Quantcast a valuable set of experiences and expertise both in building scalable and cooperative industry platforms as well as deep insight into the workings, concerns and future of the media industry.”
About The Founders Fund
Based in San Francisco, Calif. and founded in 2005, Founders Fund is a group of four proven entrepreneurs with a shared vision: to change the way venture investments are made. Led by a team of experienced entrepreneurs, Founders Fund seeks to provide the capital, insights and support required to build a company from the ground up and sustain successful enterprises with a non-traditional, founder-focused approach. Their current portfolio includes companies such as Facebook, Geni, Powerset, Ooma, Quantcast, Slide and others. For more information, visit www.foundersfund.com.
About Polaris Venture Partners
A national venture capital firm with over $3 billion under management, Polaris invests in seed, early stage and growth equity businesses in the technology, life science, digital media, enertech and consumer sectors. Other digital media investments in Polaris’ portfolio include Automattic/Wordpress, BlackArrow, JibJab Media, Heavy, and Turbine Entertainment.
Through a philosophy of lead investing and active, long-term partnering with entrepreneurs and management teams, Polaris has helped many companies achieve outstanding success. Among them are: Accordant Health Services, Acusphere, Advanced Inhalation Research (AIR), Akamai Technologies, Allaire Corporation, Alnylam Pharmaceuticals, American Superconductor, Archivas, Aspect Medical Systems, Avici Systems, Centra Software, Classifieds2000, Cubist Pharmaceuticals, Cushcraft Corporation, deCODE genetics, Exchange.com, GlycoFi, Matrics, Momenta Pharmaceuticals, Paradigm Genetics, Powersoft, Solidworks, and TransForm Pharmaceuticals.
KMC Partners Public Relations for Polaris Venture Partners