In a press release, Vantage Media has announced that it has concluded a $70 million Series A preferred financing that is led by Montgomery & Co. Scale Venture Partners. Two others who participated in the round were Tudor Ventures and Integral Capital Partners.
The new Chief Executive Officer of Vantage Media is Steve Jillings, who has been the CEO of Frontbridge Technologies one of the leading email security company. The company was acquired by Microsoft Corporation in 2005. The other members of the board are Jamie Montgomery, CEO of Montgomery & Co., and Rory O'Driscoll, Managing Director.
According to Mark DiPaola, founder and President of Vantage Media, "The addition of Steve and key members of his Frontbridge management team, along with our new investors, will allow Vantage Media to continue its rapid growth while maintaining its market leadership. We are thrilled to partner with such an experienced team and believe that our clients will see immediate benefits as the company enters a new level of growth."
Vantage Media is the first company that offered search marketing solution based on performance. It was founded in 2002. Jamie Montgomery, CEO of Montgomery & Co, says, "Paid search is the biggest recipient of the rapid shift of traditional ad spending to the online market. "However, the complexities and costs involved with running a paid search campaign are substantial. We believe Vantage Media's performance-based model will ultimately allow almost any business to benefit from paid search cost-effectively."
Adds Rory O'Driscoll, Managing Director of Scale Venture Partners, "Search-based internet marketing is the fastest growing, most effective advertising medium in the last fifty years, and businesses that enable potential advertisers to easily utilize this medium will be very successful. Mark and his team have built a strong company, and with the addition of Steve Jillings, an entrepreneur Scale VP has successfully backed before, Vantage is well positioned to accelerate its momentum in the space."
Montgomery & Co., LLC was founded in 1886, that mainly concentrates on the technology, media, communications and healthcare industries.
Scale Venture Partners uses a thesis-based strategy that is used to select the innovative development stage and healthcare investments, and is based in Foster City, California.Representative portfolio companies are Alimera, Frontbridge, Glu Mobile, Good Technology, Monolithic Power Systems, Omniture, Orexigen, Placeware, Scansafe, Seattle Genetics, Somaxon, Wayport and Xceive.
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