x+1+$16 Million

[x+1], a New York-based provider of predictive online marketing, has raised $16 million in new VC funding. Advanced Technology Ventures led the round, and was joined by return backers Hudson Venture Partners and Blue Chip Venture Company.

 

PRESS RELEASE 

 

[x+1], http://www.xplusone.com, the leader in predictive online marketing, announced today that it has secured $16 million in venture funding led by Advanced Technology Ventures (ATV), with participation by current investors Hudson Venture Partners and Blue Chip Venture Company. The investment will accelerate [x+1]'s developmental initiatives in both media and website optimization as well as extend the application of [x+1]'s patented Predictive Optimization Engine (POE) to paid search and other market opportunities. Bob Hower of Advanced Technology Ventures has also joined the [x+1] board of directors.

 

“[x+1] already has a record of achievements in helping major brands improve their digital return on investment (ROI), and the new products in pipeline are just as exciting,” said Bob Hower, a general partner at ATV. “The new round of funding will accelerate [x+1]'s release of these products to market, and help marketers and their agencies improve online marketing results.”

 

Through the advanced Predictive Optimization Engine (POE), [x+1] provides superior behavioral and predictive targeting techniques customized to target the needs of each individual client. [x+1]'s proprietary digital marketing solutions provide real-time, automated decision-making to increase the productivity of each customer's interaction with online media and a marketer's web presence.

 

“We are excited to have ATV as an investor, and to have Hudson Venture Partners and Blue Chip Venture Company increase their commitments,” said John Nardone, CEO of [x+1]. “All three investors share our vision for digital marketing leadership, and their support will allow us to invest in the required people and new technologies.”

 

About [x+1]

 

New York-based [x+1] provides predictive online marketing solutions that equip online marketers with real time, automated decision making to improve engagement and lift conversion rates in media and onsite. [x+1]'s solutions simplify complex targeting in digital marketing and drive a greater return on marketing investment. Some of the top companies in financial services, telecommunications, online services and travel have significantly increased message relevance, customer response and marketing ROI by using the services of [x+1]. For more information, please visit www.xplusone.com.

 

About Advanced Technology Ventures (ATV)

 

Founded in 1979, Advanced Technology Ventures (ATV) is a bi-coastal venture capital firm (Waltham, MA, and Palo Alto, CA) with more than $1.6 billion in capital under management. ATV works closely with entrepreneurial teams in several technology markets, including software and services, communications, IT infrastructure, clean technology, medical devices, biotechnology, to build emerging-growth business ventures into market leaders. With more than 25 years of experience, ATV has a proven track record of success in helping to build strong, sustainable business enterprises. For more information, please visit our Web site at www.atvcapital.com.

 

About Hudson Venture Partners

 

New York City-based Hudson Ventures is an early stage technology venture fund, whose members have decades of experience in operating and advising companies through various stages, including concept development, expansion, public offerings, and mergers and acquisitions. Established in 1997, Hudson Ventures has invested in over 30 technology companies both as a lead investor and as a co-investor in syndicated venture financings. A few of Hudson's recent successful investments include: webMethods (market capitalization: $3.7B); Pathlight Technologies (sold to Advanced Digital Information Corp.); i-Traffic (sold to Agency.com); and TechRx (the industry's leading provider of prescription fulfillment software). Hudson Ventures is available on the Web at www.hudsonventures.com.

 

About Blue Chip Venture Company

 

Blue Chip Venture Company is a Cincinnati-based venture capital firm with $600 million under management and investments in over 100 companies located throughout the United States. As a partner with management, Blue Chip invests in and helps management build privately-owned growth companies. The firm invests in a range of industries with a concentration on enterprise software, healthcare, technology infrastructure, and marketing and media services. Investments are made in companies that are in the early and growth stages as well as in companies that are more established and require expansion or acquisition capital. Please visit www.bcvc.com.