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Datran Media Raises $60M In First Outside Round; VantagePoint Sole Investor
Excerpted from VentureWire 4/5/2005
New York --Digital marketing company Datran Media said that it has raised $60 million in a first round of financing solely from VantagePoint Venture Partners.
The San Bruno, Calif.-based multi-stage venture capital firm acquired a minority stake in Datran Media, which has been internally funded since its inception in 2001. VantagePoint Managing Director Andrew Sheehan said that his firm began talks with Datran Media late last year and closed on the money last week.
The financing will be used for continued product development and for growth that may include future acquisitions, Sheehan said. New York-based Datran Media provides online marketing services including list management, database-driven targeted marketing and reporting and analysis. The company also provides offline marketing, direct mail and telemarketing services, and has an in-house advertising staff.
"This is not the Internet 1.0 of banners or clicks or eyeballs," said Sheehan. "We call this Internet 3.0 in that it's performance-based and that means real revenues are generated with each action."
"They are a very good example of the evolution of a direct mail and direct marketing company," said Gartner analyst Denise Garcia. "It is a growing area because of the move toward...personalized marketing. And behind all of that is the need to prove your return on investment. Every company is being held accountable."
As a result of the round, VantagePoint managing directors Sheehan, Larry Handen and David Carlick will join Datran Media's board of directors. Datran Media would not disclose the names of current directors.
VantagePoint Venture Partners has more than $2.8 billion under management. The firm invests in companies in all stages of development in sectors including environmental technology, communications and systems, healthcare, semiconductors, software and the Internet.
©2005 Dow Jones & Company, Inc. All rights reserved.
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