Perfect Market Inc., a Pasadena, Calif.-based provider of marketing services for publishers, has raised $6 million in Series C funding. Tribune Co. led the round, and was joined by return backers Trinity Ventures, Rustic Canyon Partners and Idealab. The company previously raised nearly $40 million since 2005.
Perfect Market, Inc., provider of an innovative technology solution that helps publishers create value from their online content, today announced it has raised $6 million of Series C funding led by Tribune Company. Existing investors Trinity Ventures, Rustic Canyon Partners and Idealab also participated. Perfect Market will use the funds to expand its efforts to market and deploy its solution to the broad marketplace of newspapers, magazines, broadcasters with a web presence and other online publishers.
Perfect Market’s proprietary technology solution helps online publishers grow their online advertising revenue. The solution can be deployed within 30 days with little effort, minimal costs, and no risk for Perfect Market’s customers.
“We are thrilled by this vote of confidence from Tribune, which began using our solution on several of its web properties last year,” said Julie Schoenfeld, President and CEO of Perfect Market. “We look forward to having Tribune as our partner as we rapidly expand our reach and ability to serve publishers looking for new revenue streams.”
“We’re excited to expand our relationship with Perfect Market,” said Dan Kazan, Tribune’s Senior Vice President of Corporate Development. “The company has developed an innovative solution to a problem faced by most publishers with a presence on the web – how to generate more revenue from their online content. At Tribune, we have seen excellent results using Perfect Market’s solution on our websites. We look forward to collaborating further with the company as other publishers discover how Perfect Market can give them a revenue lift from their online content.”
Perfect Market also announced that Kazan has joined the company’s Board of Directors.
About Perfect Market
Perfect Market, Inc. helps publishers create additional value from their online content with little effort and no risk. Perfect Market, a spin out of Idealab, builds on Idealab’s achievements in the search industry such as its creation of the paid search model through Overture Services, acquired by Yahoo! in 2003. Perfect Market, Inc. is based in Altadena, CA. For more information, visit www.perfectmarket.com and follow us on Twitter: www.twitter.com/perfectmarket and LinkedIn: http://www.linkedin.com/companies/perfect-market.
About Tribune Company
TRIBUNE is one of the country’s leading multimedia companies, operating businesses in publishing, interactive and broadcasting. In publishing, Tribune’s leading daily newspapers include the Los Angeles Times, Chicago Tribune, The Baltimore Sun, Sun Sentinel (South Florida), Orlando Sentinel, Hartford Courant, Morning Call and Daily Press. The company’s broadcasting group operates 23 television stations, WGN America on national cable, and Chicago’s WGN-AM. Popular news and information websites complement Tribune’s print and broadcast properties and extend the company’s nationwide audience. At Tribune we take what we do seriously and with a great deal of pride. We also value the creative spirit and nurture a corporate culture that doesn’t take itself too seriously.