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Intent Media Raises $20 million from Redpoint and Matrix(November 08, 2011)
New York, NY (PRWEB) November 08, 2011
Intent Media (http://www.intentmedia.com) announced today that it has raised $20 million from Redpoint Ventures and Matrix Partners in a second round of financing. Intent Media offers a unique solution to help retailers unlock the massive media value embedded in their site traffic.
The disruptive nature of this business is extremely attractive, said Chris Moore, Partner at Redpoint Ventures, Intent Media may very well transform e-commerce.
We really love the model and the team, said Nick Beim, General Partner at Matrix Partners, Theyve attracted amazing talent to the company because they are pushing the envelope technically and strategically.
Intent Media will use the funding to expand its rapidly growing business, including an aggressive hiring plan centered on the companys New York City headquarters.
Our steep growth trajectory means that we have to keep attracting the best engineering and analytical minds, said Richard Harris, CEO of Intent Media. We are going to continue investing to do just that.
As part of the funding, Moore joins Beim on the Intent Media board of directors. Beim has served on the board since Matrixs original investment in the company in 2009.
About Intent Media
Intent Media (http://www.intentmedia.com) offers an end-to-end solution for commerce sites seeking to maximize the profitability of their site traffic. Drawing heavily on the companys expertise in data science and intent targeting, Intent Media helps retailers safely extract both the transaction and advertising value of their visitors. The companys backers include Matrix Partners and Redpoint Ventures, LinkedIn co-Founder Reid Hoffman, AppNexus CEO Brian OKelley, and Gilt Groupe CEO Kevin Ryan.
About Matrix Partners
Matrix Partners is a premier venture capital firm that has generated outstanding returns for over three decades. The firm has delivered several of the industrys top performing funds of all time. Matrix Partners has offices in Waltham, MA; New York, NY; Palo Alto, CA; Mumbai, India; and Beijing and Shanghai, China. The firm has been fortunate to have invested in game-changing, industry-leading businesses such as Apple Computer, Sandisk, Veritas, Sycamore Networks, Phone.com, Starent Networks, JBoss and Gilt Groupe. Find out more at http://www.matrixpartners.com.
About Redpoint Ventures
Founded in 1999, Redpoint Ventures is a leading technology focused venture capital and growth equity investment firm with over $2.5B in capital under management. Redpoint focuses on investing globally in technology ventures across the internet, digital media, mobile, and enterprise sectors to accelerate growth and build industry defining companies. Its partners have been involved in 41 IPOs and 66 upside acquisitions. The firm is headquartered in Menlo Park, CA with offices in Los Angeles and Shanghai, China. For more information visit our website at http://www.redpoint.com.
Read the full story at http://www.prweb.com/releases/2011/11/prweb8943027.htm.
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