press release
33Across Closes $9 Million Series B Financing
Company to Use Financing to Expand Technology, Product and Sales Initiatives
Flybridge Capital Partners Joins First Round Capital and QED as Investor
Press Release - New York, January 5, 2011
33Across (33across.com), the leading social targeting platform, today announced it has closed a $9 million Series B round of funding led by Flybridge Capital Partners with participation from Series A investors, First Round Capital and QED Investors. As part of the funding, Flybridge Capital's General Partner Jon Karlen will join the Company's Board of Directors.
"In a little over two years, 33Across has become the leading social targeting platform driving results for hundreds of marketers, including Sprint, eBay, and Gilt Groupe," said Eric Wheeler, CEO and co-founder of 33Across. "With the online advertising market expected to reach $50 billion in 2011, this round of funding provides us with the capital to grow our technology, product and sales initiatives as we continue to provide customers with the industry's highest performing solution. Jon and the Flybridge team have a deep understanding of our market and we're delighted to have them as a partner."
"Given the rapid growth of social media, Brand and Direct Response Advertisers are increasingly interested in using social graph data to deliver higher performance media campaigns," said Jon Karlen of Flybridge Capital Partners. "33Across has established itself as the market leader in the social targeting space through a differentiated offering which is providing proven ROI to a growing list of blue chip customers. We are thrilled to partner with Eric and the 33Across team as they continue to aggressively expand in the year ahead."
About 33Across Inc.
33Across, the leading social targeting platform, has developed breakthrough technology called SocialDNA™ that uses social graph data to dramatically improve online marketing. The company is led by a team of executives with backgrounds in advertising, social network analysis, and machine learning with offices in New York, San Francisco, Sunnyvale, Los Angeles, Chicago, Boston, Detroit and Atlanta. The company is dedicated to realizing the potential of social connections in making products, advertising and services more valuable to consumers. Learn more at 33across.com.
About Flybridge Capital Partners
Flybridge Capital Partners is an early-stage venture capital firm whose mission is to assist entrepreneurs in growing innovative, global companies. With $560 million under management, the firm is focused on investing in consumer, energy, healthcare and information technology markets and is led by a team with domain expertise and more than half a century of combined experience in venture capital. flybridge.com
About First Round Capital
First Round Capital is an early-stage venture capital firm. As seed-stage investors, we often provide a company's first outside capital – and typically invest alongside angel investors. Our typical initial investment in a company is around $500,000 – but we've gone both higher and lower. We're not afraid of investing in pre-revenue companies, and we understand the challenges of launching a new product. That's why we like to take an active role in the companies we invest in. First Round Capital invests nationally and has offices in San Francisco, New York and Philadelphia. | firstround.com
About QED Investors
QED Investors actively supports high-growth businesses that use information to compete – and win. While our support is tailored to the specific needs of each portfolio company, we typically provide a combination of both capital and capability. With operationally-oriented skills that we believe are both fundamentally applicable and broadly transferable, we enjoy working closely with a small set of carefully selected companies that range in size and style. But common to all of our partnerships is a shared conviction that information plays a decisive role in the success of the company, a mutual desire for a high degree of direct engagement, and a shared enthusiasm for experimentation and learning. | qedinvestors.com
Media Relations Contact: pr@33across.com
