AudienceScience scores cash |
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AudienceScience scores cash
AudienceScience, the Bellevue behavioral targeting and online advertising company formerly known as digiMine and Revenue Science, has raised $15 million in funding, according to a filing with the Securities and Exchange Commission. The money includes $10.7 million from promissory notes issued last year, with yesterday's filing indicating that $4.9 million remains to be sold in the current $20 million financing round.
AudienceScience's previous backers include Mohr Davidow, Integral Capital Partners and Mayfield Fund, and as of four years ago it had raised more than $70 million in venture funding.
(The company also raised cash in August 2008, though I am having a hard time finding the amount or my story on that deal).
The most recent equity funding is listed as a Series F preferred stock offering. Representatives from the company could not be reached for comment.
Founded in 2000, AudienceScience has kept a relatively low profile in recent months. We did report on former CEO Bill Gossman taking a job at San Francisco social networking site hi5 earlier this year, but other than that the company -- with offices in New York, Bellevue, Tokyo, London and Santa Barbara -- hasn't generated much news.
The online ad business has taken a big hit during the economic downturn, but AudienceScience's technology allows marketers to deliver highly-targeted messages to specific demographic groups. The company tracks an individual's Web behavior -- the sites they visit or articles they read for example -- and then serves ads based on those behaviors.
For example, a person who had just read an article about the Seattle Mariners on an online news site could be shown an ad for a Seattle area automobile dealership. The company says it does not collect personally identifiable information.
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