Digital ad network RadiumOne Inc has closed a USD21 million Series B funding round led by Crosslink Capital. DFJ Esprit also participated in the round along with previous investors Adams Street Partners and Trinity Ventures, bringing total funding to USD33.5 million.
The latest funding round will primarily be used for international expansion and acquisitions. RadiumOne recently opened its UK office, and in the coming months will be launching in continental Europe and Asia Pacific. The Company, which reached profitability in Q4, will use its existing and new capital for potential acquisitions designed to give the company additional resources and tools to effectively scale.
“Our goal at RadiumOne is to use social data to change online advertising for the better, and make a positive measureable impact on advertisers and consumers,” says Gurbaksh Chahal (pictured), Founder and CEO of RadiumOne. “The ‘social evolution’ of the Internet has given us an opportunity to do this, and we feel we’re filling the void of socially-targeted advertising outside of Facebook. This latest round of funding will accelerate our growth, and allow us to make the moves that will truly establish RadiumOne as the pioneer in bringing social advertising to the open web.”
Since launching 18 months ago, over two hundred Fortune 500 brands have benefited from working with RadiumOne Using its innovative ShareGraph™ technology, which analyses how users communicate with their closest connections, RadiumOne identifies the specific consumers who are most likely to engage with a brand’s ads. As a result, advertisers achieve more efficiency and access to audiences unidentified by traditional behavioural targeting techniques.
“When we look at potential portfolio companies, we try to identify who has the technology and vision to really disrupt an industry and make a global impact,” said Jim McLean, partner at Crosslink Capital and new member of RadiumOne’s board. “We have seen it firsthand with companies like Pandora, and we know that RadiumOne will be extending that same disruption into the display advertising ecosystem.”
Krishna Visvanathan, Partner at DFJ Esprit, says: “Leveraging social data to improve online advertising is a truly exciting arena and we are pleased to be backing a company making a real impact in this space. After working with Gurbaksh on his last venture, I am delighted to be able to do so again and help drive RadiumOne’s European expansion.”
