Adchemy Inc., a Redwood City, Calif.-based provider of online customer acquisition technology, has raised $19 million in Series C funding. Mayfield Fund led the deal, and was joined by Hellman & Friedman and return backer August Capital.
Adchemy, Inc., a next-generation online customer acquisition technology company, today announced it has secured $19 million in funding led by Mayfield Fund with additional investments from Hellman & Friedman, LLC., and existing investor August Capital. Founded in 2004, Adchemy develops software that is revolutionizing the world of online customer acquisition by combining advanced scientific algorithms with Web data to target, engage and qualify customers.
The online advertising market grew by 50 percent from 2006 to 2007 and in the first six months of 2007 generated $10 billion in revenue in the United States, according to the Internet Advertising Bureau. Adchemy is building on this market momentum with its current product, Adchemy Actions