Quantcast, a San Francisco-based provider of online audience analytics, is looking to raise around $50 million at a $300 million pre-money valuation, peHUB has learned. One source tells us that the company has already received multiple term sheets, but no identities of the lead investors (maybe strategic?) or if the offered terms match what QuantCast is seeking.
The raise coincides with a strategic evolution for Quantcast, which recently rolled out a targeted ad platform that utilizes its direct measuring software. As the WSJ explained yesterday:
Now Quantcast plans to translate the technology it has installed on more than 10 million Web sites into revenue. Its new media-buying service, known as Quantcast Media Program, begins by allowing advertisers to create a detailed profile of the types of people they want to reach. Then Quantcast finds Web sites using its measurement technology that are attracting those types of people. It takes a cut of the revenue from the resulting ads sold by the Web sites.
Quantcast so far has raised over $25 million in total VC funding, including a $20 million Series B round in late 2007 (placed by Allen & Company). Shareholders include Founders Fund, Polaris Venture Partners and Revolution Ventures. Board members include Ken Howery of Founders Fund and Mike Hirschland of Polaris.
A company spokeswoman has not returned requests for comment.