"With the completion of our seed funding stage and ongoing roll-out of our Audience Discovery solution, Connexity is moving from development and testing into a rapid growth phase," said CEO Dave Gross. "We are very pleased to have Rincon as a new investor. We have known them for years and have been watching their rapid rise in the advertising technology space. They have grown to a level of domain expertise that compliments their extraordinary reputation as investment partners."
In conjunction with the financing, John Greathouse of Rincon Venture Partners has joined the company’s board of directors. "Consistent with a primary tenet of our investment thesis, Connexity is a serially successful team which has experienced shared success in its prior ventures. Most notably, under Dave’s leadership at Fastclick, the Connexity team raised $400,000 before achieving sustained profitability and eventually selling the business for over $200 million," said Greathouse. "Advertisers are hungry for new marketing solutions that engage online users with more relevant ads, rather than interrupt and annoy them. Connexity is leading the charge within the emerging, engagement-oriented advertising paradigm."
SOURCE Connexity [August 3, 2012]
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