Conduit Raises $8 Million

Conduit, a Redwood Shores, Calif.-based provider of Web community toolbars, has raised $8 million in Series B funding from Benchmark Capital.

PRESS RELEASE 

Conduit, the leading provider of web community toolbars, today announced that it has closed its series B round of funding with Benchmark Capital. The company will use the funds to expand adoption of its successful, on-demand community toolbar service and to offer a broader portfolio of web publisher syndication solutions.

 

“Conduit's performance has been remarkable,” comments Michael Eisenberg, general partner of Benchmark Capital and Conduit board member. “In less than two years, the company's innovative, on-demand delivery model has enabled tens of thousands of web publishers to build and distribute community toolbars to millions of active subscribers worldwide. The founders have demonstrated keen insight and flawless execution in their vision to connect publishers with subscribers in new and innovative ways.”

 

“Benchmark's deep knowledge of the Internet and track record for establishing lasting partnerships make them a great match for us,” says Ronen Shilo, founder and CEO of Conduit. “Although the company is cash-flow positive, having Benchmark as our partner expands our network of resources and will help us upgrade our offering to deliver a complete family of web syndication solutions that enable publishers to connect and communicate more directly with their communities.”

 

Conduit's on-demand community toolbar service allows any web publisher