MOUNTAIN VIEW, CA -- (Marketwire) -- 01/24/12 -- Global precision marketing platform company Adara Media Inc. has secured $12.4 million in funding from venture capital firm August Capital, with participation from existing investors Morgenthaler Ventures, Onset Ventures, and Baseline Ventures. This financing will fuel increased investment in Adara Media's award winning TruPrecision Targeting Platform, delivering highly targeted media and ecommerce campaigns based upon specific customer relevance across top travel and hospitality brands. It will also advance Adara Media's mission to expand its platform into new verticals and invest in sales, marketing and operational resources.
The funding follows exponential spending increases from Adara Media's clients in 2011. Working with complex customer data sets and valuable audience segments, such as frequent flyers, business and international travelers, Adara Media enables top brand advertisers to connect with a highly desired consumer base via online media channels.
"This new round of funding from an esteemed group of partners represents continued investment in the growth of our business," says Layton Han, chief executive officer of Adara Media. "Our business has achieved revenue growth every month during 2011 and is now poised to grow more aggressively and efficiently. We're excited to have the support of August Capital, and the continued backing of our existing investors, as we invest heavily in our platform development and continue to expand globally."
Han added that Adara will also use the funding to take the TruPrecision platform into new vertical categories. The company's growth in 2011 has come from travel, hospitality and closely related verticals. Through Adara Media's TruPrecision Targeting Platform, brands can reach and activate more than 225 million traveler profiles.
Dave Marquardt and Tripp Jones of August Capital led the investment in Adara Media. "We pride ourselves on investing in companies that show entrepreneurial excellence and technical innovation," said August Capital co-founder Dave Marquardt. "Adara Media and its management have shown that this platform can bring brands closer to their best customers through the use of technology. We're excited about Adara's future as they expand globally and develop into new verticals."
Adara Media's industry leadership has been acknowledged through many industry awards including AlwaysOn OnMedia 100, Red Herring North America, and the Mega Awards, hosted by Airline Information. Adara Media has recently established an office in Chicago and announced the promotion of Scott Garner to EVP of business strategy, now responsible for strategic partnerships as well as new product strategy.
About August Capital:
Founded in 1995, August Capital has funded an extraordinary group of entrepreneurs who have built significant, long-term value across the full range of information technologies. These companies represent an aggregate market capitalization of well over $250 billion, generate in excess of $75 billion in annual revenue around the world. This success is a testament to the entrepreneurs themselves, as well as the fundamental technologies they have created. August Capital has $1.3 billion under management, and has invested in more than 75 companies including Atheros, Cobalt Networks, Iridigm, Mimosa Systems, Postini, Seagate, Shopping.com, SixApart and Silicon Image. Recent investments range from $500,000 to $130 million in information technology businesses from semiconductors to ecommerce. The firm's partners have previously invested in a number of ground breaking technology companies, including Actel, Adaptec, Compaq, Grand Junction, Intuit, Linear Technology, Microsoft, MMC Networks, Skype, Sun Microsystems, Sybase, Symantec, and Visio. August Capital is located in Menlo Park, California. For more information, please visit: www.augustcap.com.
About Adara Media:
Adara Media offers a loyalty audience platform that enables top brands to monetize and nurture their loyalty program customers online and helps advertisers reach exclusive, qualified audiences. Using proprietary loyalty data, Adara Media enables advertisers to reach real individuals, ensuring authenticity while maintaining complete anonymity. Adara Media's brand partners then gain ancillary revenue streams and the ability to deepen their relationships with loyalty consumers through targeted offers and consistent communication. Adara Media was founded in 2005 and is headquartered in Mountain View, CA. For more information, please visit www.adaramedia.com.