SOURCE: Adknowledge

Adknowledge

January 12, 2011 08:00 ET

Adknowledge Raises Over $200 Million to Pursue Acquisitions

Investment Will Help Adknowledge Expand Its Leading, Long Tail Advertiser Marketplace

KANSAS CITY, MO--(Marketwire - January 12, 2011) - Adknowledge, the leading long tail advertiser marketplace, announced today that it has raised over $200 million in debt and equity financing to fuel its growth through future acquisitions. JMI Equity, a growth equity firm that invests in leading software, internet and business services companies, led the equity investment, while Bank of America led the debt financing. In the U.S. and international markets, Adknowledge plans to use the funding to further expand its network so advertisers can access inventory from valuable segments of the long tail marketplace online, such as mobile, video, content sites, and display.

The new investment is a testament to Adknowledge's strong growth, profitability, and market position. Having roughly doubled its revenue over the past 12 months through a series of strategic acquisitions and organic growth, Adknowledge closed 2010 as the largest privately-owned internet advertising network in the U.S. with over 330 employees, and $300 million in revenue.

A Single Efficient Marketplace

Adknowledge operates the leading long tail marketplace, www.bidsystem.com, for advertisers who are looking to syndicate their advertisements into different types of non-search distribution on a cost-per-click and cost-per-action basis. Today, more than 10,000 advertisers use Adknowledge to promote their offers across "hard to reach" segments of online advertising, such as casual gaming, email, social networks, display, mobile, and domain inventory. The company has developed a unique model for efficiently monetizing disaggregated Web traffic across these various channels, where highly engaged consumers spend the majority of their time online.

"It's easy to advertise with Google, Bing and Facebook, but much tougher to reach the rest of the Internet because it's so fragmented," said Scott Lynn, chief executive officer of Adknowledge. "We believe there are currently too many intermediary companies that make it very confusing and inefficient for advertisers to buy and execute their advertising campaigns across the tail. With this new investment, we will continue to further our goal of creating a 'must buy' marketplace for online advertisers."

"Adknowledge has experienced tremendous growth since its founding, and we believe advertisers will continue to utilize the company's sophisticated technology platform to streamline their marketing efforts," said JMI Equity General Partner, Brad Woloson, who has joined Adknowledge's Board of Directors. "We are excited to have the opportunity to work closely with Scott and the Adknowledge team and lend our expertise in online advertising to help them capitalize on their many growth opportunities."

About Adknowledge

Adknowledge operates the 4th largest marketplace (beyond Google, Bing, and Facebook) for advertisers to connect with their target audiences in hard-to-reach places on the Web with similar ROI as search. Since its founding in 2004, Adknowledge has grown organically and through acquisitions (including Miva, Super Rewards and Hydra) to become the largest privately-owned internet advertising network. The company connects advertisers with consumers across the long tail web via multiple channels, including email, search, domains and social networks. For more information on Adknowledge, visit www.adknowledge.com.

About JMI Equity

JMI Equity is a growth equity firm focused on investing in leading software, internet and business services companies. Founded in 1992, JMI Equity has invested in more than 100 businesses in its target markets and has over $2.1 billion of committed capital under management. JMI Equity provides capital for growth, recapitalizations, acquisitions and buyouts. Representative investments include DoubleClick, iContact, Eloqua, Internet Brands, Undertone and Service-now.com. For more information on JMI Equity, visit www.jmiequity.com.

About Bank of America

Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America Corporation stock is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange. For more information, visit www.bankofamerica.com.

Contact Information

  • Press Contacts:

    For Adknowledge:
    Eric Doyle
    re: imagine group
    Email Contact
    310-804-8228

    Eric John
    VP Marketing
    Adknowledge
    Email Contact