Poindexter Gets $8 Million Venture Backing

Share this article:
Online ad serving company Poindexter Systems has closed an $8 million venture capital financing round.


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.


Share this article:
close

Next Article in Digital Marketing

Follow us on Twitter @dmnews

Latest Jobs:

Featured Listings

More in Digital Marketing

Native Ads Unmasked!

Native Ads Unmasked!

A Google product engineer introduces a browser plug-in that outs native advertising.

Good Descriptions Rate More Than Good Reviews

Good Descriptions Rate More Than Good Reviews

Price still rules as an online purchase influencer, says a new survey, but basic brand assets should not be ignored in online product presentations.

For CMOs, A Tale of Two Situations

For CMOs, A Tale of Two Situations

A survey of 525 chief marketers finds them voyaging between digital discovery and digital deliverance, riding out turbulent trends to positions of newfound respect.