SOURCE: ABS Capital Partners

March 04, 2008 10:02 ET

Advertising Sales Solutions Provider INVISION INC. Scores $30 Million Series A Funding

Investors ABS Capital and CIBC Capital Attracted to Company's Market Leading Solution

NEW YORK, NY--(Marketwire - March 4, 2008) - INVISION INC., the leading provider of advertising sales solutions among broadcast networks, cable networks, ethnic market media and syndication television, announced today that it had completed a $30 million Series A funding. The proceeds will be used for working capital to continue to make enhancements to the Company's leading technology as well as increase sales, marketing and customer service efforts. The round will also fund a dividend to existing shareholders. The investment was led by ABS Capital Partners, a leading later-stage growth company investor, along with CIBC Capital Partners, and ABS Capital's Limited Partner, Piper Jaffray. This is INVISION's first institutional round of financing and gives it an active, professional group of investors to support the Company as they continue to build a significant business. As a result of the financing, Ralph Terkowitz and Bobby Goswami, General Partners at ABS Capital and Mark Hastings, Managing Director of CIBC, will join INVISION's Board of Directors.

"Our customers are operating in an increasingly dynamic business environment where it is paramount that they optimize their most precious asset -- advertising inventory. INVISION's solutions allow our customers to meet their changing needs and increase the revenue yield on their inventory immediately," said Christine Watkins, CEO of INVISION. "Having active partners like ABS Capital and CIBC Capital will help us to expand our offerings and ensure our customers continue to have the most innovative solutions to address their most crucial business issues."

Offered on both an installed and hosted basis, INVISION's software-based solutions manage the sale of over $10 billion in annual television advertising inventory. Just as the airline reservations systems pricing algorithms are critical for airline profitability by maximizing revenue from available seat inventory, the Company helps its customers increase the revenue yield on available advertising inventory. Led by this value proposition and deep vertical industry experience, the Company has established unique, valuable and trusted relationships with a wide array of customers representing over 40 media outlets such as Bloomberg, NBC Universal, Univision and The Weather Channel. As electronic advertising changes to address new forms of video delivery such as video-on-demand and the Internet, and as localization and more specific targeting increases potential revenue opportunities, television and cable networks are increasingly challenged to maximize revenue from a fixed perishable inventory. As a result, there is a growing demand for technologies which can incorporate new measurement and delivery techniques and optimize the revenue yield on advertising inventory in a dynamic market. More U.S. advertising dollars are spent in television than any other medium, including print, online, outdoor or mobile. U.S. revenue in the television advertising industry reached $72 billion in 2006. Advertising spend in television is expected to grow to $87 billion in 2010.

"We strongly believe that INVISION's solutions are mission critical for media providers in a market that is going through an enormous shift in how people consume their media," said Ralph Terkowitz. "We have gotten to see first-hand through our diligence how crucial the Company's offerings are for their customers and with over 280 man-years of development in their products, they are the clear market leader."

INVISION's flagship solution, DealMaker, delivers a comprehensive strategic ad sales capability, including deal management, inventory control, pricing optimization, compliance, operational CRM analytics, business intelligence reporting and real-time delivery monitoring. Segmenting perishable ad inventory to optimize profit is highly complex, and requires a deep vertical knowledge of the fundamental business problem, knowledge of real time inventory and related demand and sophisticated analytical techniques. DealMaker also provides the tools to ensure Sarbanes-Oxley compliance within sales organizations. As an integrated system for deal management, inventory control, pricing and planning, revenue reporting and account stewardship, DealMaker is used throughout the industry at broadcast networks, cable networks, and syndication operations and other digital media outlets for executing unique selling strategies. All INVISION products are backed up by an outstanding team of experienced media ad sales business and technology experts who share the corporate strategic vision and objective to recognize that client satisfaction drives business profitability, stability and longevity.

Jefferies Broadview, the technology investment banking division of Jefferies & Company, Inc. acted as exclusive financial advisor to INVISION. Jefferies is a global, full-service investment bank serving growth and dynamic companies and their investors.

About INVISION Inc.

Founded in 1993 with offices in New York and Atlanta, INVISION (www.invisioninc.com) develops licensed software to support the ad sales processes for television and radio networks, stations and syndicators. INVISION's clients include BET, Bloomberg, Bravo, CNBC, E! Entertainment Television, Fox Sports Network, F/X, Galavision, G4/techTV, Gemstar/TV Guide, Hallmark, MGM, MSNBC, National Geographic Channel, PAX, Sony Pictures Television, Speed Channel, Telemundo, Telefutura, Tribune, Univision, and The Weather Channel.

About ABS Capital Partners

Founded in 1990, ABS Capital Partners has established a strong track record for investing in later-stage growth companies. With $1.5 billion under management, ABS Capital helps companies choose the growth initiatives that build the greatest long-term value. ABS Capital has partnered with numerous portfolio companies to achieve successful outcomes, including over 40 initial public offerings and acquisitions by market leaders like CBS Corporation, EMC Corporation, LabCorp and Pitney Bowes Inc. For more information, please visit www.abscapital.com.

About CIBC Capital Partners

CIBC Capital Partners is responsible for the principal investing activities of CIBC World Markets on a global basis. It manages numerous investment portfolios with total committed funds in excess of CAD$5.4 billion and investments in over 250 companies and approximately 150 third party funds. Since 1989, CIBC Capital Partners has provided private equity, mezzanine and bridge financing to create, grow and recapitalize companies in North America, Europe and Australia. It also supports the broader strategic initiatives of the Canadian Imperial Bank of Commerce (CIBC) through assisting in the structuring, monitoring and harvesting of strategic bank investments. CIBC invests in North American-based companies out of its Boston, New York, San Francisco and Toronto offices.

Contact Information

  • Contact:
    Stephanie Carter
    ABS Capital Partners
    (410) 246-5609
    Email Contact