Reply.com, the advertising marketplace targeted at local and niche companies, has raised $1.08 million in options, securities and debt financing, according to a filing with the SEC.
The San Ramon, Calif. company made big news at the end of last month when it filed for a $60 million initial public offering.
Reply distinguishes itself from other ad networks, claiming to convert 50 to 100 percent of customers who click on an ad into buyers, because it’s so narrowly targeted at customers based on their past purchase and browsing behavior, or self-selected preferences.
As VentureBeat reported earlier, Reply works by collecting this kind of information from web surfers, and then selling their clickthroughs on ads to buyers looking for matching profiles. This method of lead generation has proved to generate higher returns on buyers’ investments, the company says.
Reply previously raised $27.5 million from Scale Venture Partners, Outlook Ventures and ATEL Ventures, among others.
Companies: Atel Ventures, Outlook Ventures, Reply.com, Scale Ventures
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