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Bizo receives USD6m funding led by Bessemer Venture Partners

The online B2B audience targeting platform and advertising network Bizo has completed a USD6m round of equity financing led by Bessemer Venture Partners.

Existing investors Venrock, Vulcan and Ascent also participated.

Bizo will use the funding to accelerate its growth in the B2B audience data space by increasing its sales and marketing teams and investing in product development to further refine the capabilities of its proprietary Bizographic Targeting Platform.

The platform allows B2B marketers to learn more about the business-oriented demographics of their audience and target them more precisely, while preserving their anonymity.

American Express, Hoover’s and JPMorgan Chase are Bizo’s top clients.

"We are thrilled to have the support of Bessemer and our existing investors as we improve our ability to gather, clean, optimize and anonymise data for business traffic targeting," says Russell Glass, Bizo chief executive. "These funds will allow us to keep pace with the growing demand for targeted online marketing to business professionals."

Bizo has been named a finalist in the third annual 2009 Amazon Web Services Start-Up Challenge, a competition seeking the most promising start-ups using Amazon web services to build their infrastructure and business.

In November, Bizo teamed with UK-based The Digital Partnership, a B2B digital advertising network, which now can target more than six million unique business users in the UK and more than 45 million globally using the Bizographics platform. In October, interCLICK became the first online ad network to join Bizo’s Premier Data Reseller Program, allowing interCLICK to use Bizo’s audience targeting data to serve online ads to its audience.

"At a time when advertisers are taking a closer look at campaign effectiveness and ROI than ever before, Bizo’s ad targeting approach ensures that B2B marketers are reaching the right audience every time," says Byron Deeter (pictured), a partner at Bessemer Ventures Partners. "Russell and his team have accomplished what has long been needed in the B2B marketing space, and we at BVP are excited to be able to support the next steps in their success."

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