Poindexter Gets $8 Million Venture Backing
The financing, led by new investors Blue Chip Venture Co. and WallerSutton2000, brings the 5-year-old New York company's total funding to $15 million. Poindexter CEO/president Rich Person said the backing would be used to build out the company's ad-serving capability and expand into new areas, such as search and e-mail.
"Our target audience is very large direct marketers," he said. "They want to make sure they're doing business with a very stable company. Having that cash in the bank guarantees that if we have a hiccup, or if we lost a large client, not that we plan to, we could survive that."
Marketers such as AOL, American Express and Continental Airlines use Poindexter's behavioral-targeting technology in their online marketing. The company's Progressive Optimization Engine uses statistical modeling and clustering techniques to find the audience most receptive to an online offer.
Previous investors Hudson Ventures and Echelon Ventures also participated in the financing. Mark Wright, a director at Blue Chip Venture, and Bill Ingram, a partner at WallerSutton2000, will join Poindexter's board of directors.