Ace Metrix™, the leader in on-demand television advertising intelligence, today announced the closing of a $6.0 million “B” round of financing, led by Leapfrog Ventures. The new funds will be used to expand sales and marketing of the company’s fast-growing online television advertising effectiveness measurement service. Existing investors Hummer Winblad Venture Partners and Palomar Ventures also participated in the funding. Pete Sinclair, co-director at Leapfrog Ventures, will join the board of directors of Ace Metrix™.
The new funding caps a year of growth for Ace Metrix™. Since launching the Ace Metrix™ online service in June of 2009, the company is on-track to exceed first year bookings and targeted monthly recurring revenue by a significant margin. Customer momentum is demonstrated by the addition of brand names such as Nissan North America, Mercedes-Benz, Microsoft, HP, Coldwell Banker Real Estate, Chrysler, CBS and others.
“In this market very few companies are hitting their numbers, let alone exceeding them. This early market acceptance is one reason we are thrilled to become part of the Ace Metrix™ team,” said Sinclair.
“Our growth this year illustrates strong customer value in the real-time, actionable television advertising effectiveness analytics that we deliver,” said Steve Goldman, co-founder and CEO of Ace Metrix™. “Leapfrog, with their proven expertise in building companies, is a natural partner to help take us to the next level.”
Prior to Ace Metrix™ advertisers had no way of quickly assessing the impact of their television advertising creative, wasting millions of dollars on misdirected media spend. Legacy services are focused only on measuring standard recall and often take weeks to deliver results. Ace Metrix™ goes well-beyond this by measuring the actual effectiveness of advertising creative and delivering results in real-time through an online analytics dashboard.
About Leapfrog Ventures
Leapfrog Ventures invests in companies with identifiable customers and proprietary technology over the competition. Information Technology, software, communications/wireless, and technology-heavy consumer spaces are Leapfrog preferred markets. Leapfrog Venture’s mission is to help its portfolio companies leapfrog their competitors and achieve industry-leading levels of competitive and market performance as quickly as possible. For more information please see www.leapfrogventures.com.