BrightTag Secures $15 Million in New Financing
APR 25, 2012 - 10:00 ET
New Funding Led by Baird Venture Partners to Fuel Triple-Digit Growth for the Tag Management and Real-Time Data Distribution Provider
CHICAGO, IL--(Marketwire - April 25, 2012) - BrightTag, a technology platform provider for the digital marketing industry, announced today it has closed $15 million in new financing. Baird Venture Partners led the round with participation from existing investors New World Ventures, TomorrowVentures, EPIC Ventures, I2A and Silicon Valley Bank.
BrightTag achieved 12x year-over-year growth in 2011 and is on pace to reach triple-digit growth in 2012. The company lists 1-800-Flowers.com, JetBlue Airways, Grainger and Chegg among its many enterprise clients. This latest round of financing will be used to accelerate development of BrightTag's innovative technology platform and expand the company's sales efforts in the US and overseas.
Benedict Rocchio, Partner at Baird Venture Partners, will join the BrightTag Board of Directors. He commented, "We are extremely excited to be backing a proven management team that is redefining how websites connect their digital marketing and analytics services."
"We've been impressed with BrightTag's approach to simplify how third-party tags and pixels are integrated across our global technology platform," said Roger Liew, CTO of Orbitz Worldwide. "The BrightTag solution enables the global marketing and technology teams at Orbitz to innovate and rapidly manage changes to our marketing programs. We've found the BrightTag team to be highly skilled and exceptional partners."
BrightTag is building a new technical foundation for the next generation of online marketing. The BrightTag ONE™ integration platform helps marketers and web analysts make online data instantly useful in any web or mobile application, while solving fundamental privacy, data quality and site performance challenges.
Mike Sands, CEO of BrightTag, commented, "We have been fortunate to count some of the world's leading brands as clients. This financing will help BrightTag continue to execute on our vision to eliminate the unnecessary complexity that exists in online marketing today. We look forward to helping brands seamlessly connect to a vibrant digital marketing industry filled with opportunity."
Headquartered in Chicago, BrightTag is funded by Baird Venture Partners, New World Ventures, TomorrowVentures, EPIC Ventures and I2A Fund. BrightTag was named by VentureWire and an independent board of review at Dow Jones as one of the 50 most innovative technology companies of 2011 and a member of the FASTech50.