eBureau Secures $12 Million in Series B Funding Led by Redpoint Ventures
eBureau Secures $12 Million in Series B Funding Led by Redpoint Ventures
Substantial Investment from Leading Silicon Valley VC Firm Further Validates Technology, Fuels Growth Strategy; Redpoint Ventures’ Chris Moore to Join eBureau Board of Directors
August 20, 2007 — ST. CLOUD, Minn. — eBureau, an innovative provider of predictive scoring and information solutions, today announced it has raised $12 million in Series B funding led by Redpoint Ventures, a leading Silicon Valley-based venture capital (VC) firm, along with existing investor Split Rock Partners. The financing, which brings eBureau’s total raised capital to date to $28 million, will be used to expand eBureau’s product development, sales, and marketing activities.
As part of its investment in eBureau, Redpoint Ventures partner Chris Moore will join the eBureau board of directors, effective immediately. Moore, who focuses on consumer Internet, online marketing, and business services opportunities for the firm, led the investment in Right Media, recently acquired by Yahoo!, and was actively involved in Redpoint’s investment in MySpace. Michael Gorman and Jim Simons, managing directors with Series A investor Split Rock Partners, will continue to serve on eBureau’s board of directors.
“This investment round represents a significant milestone in eBureau’s ongoing growth and development, and serves as clear validation of our technology and business model,” said Gordy Meyer, president and chief executive officer of eBureau. “We are extremely pleased to welcome Redpoint to our group of investors, and to add Chris Moore to the board. This infusion of capital, along with Redpoint’s expertise in the online marketing space, will play a major role in eBureau’s future success.”
“eBureau has done a tremendous job to date with the development and introduction of its breakthrough solutions in predictive analytics and scoring, and in securing major clients in the financial services and online marketing domains,” said Moore. “We believe the company will have a dramatic impact on the efficiency and effectiveness of the online performance marketing sector.”
eBureau is applying a new, reinvented approach to predictive scoring across multiple markets, including direct marketing, credit and collections, and online advertising. Today, more businesses can realize the benefits of predictive scoring in real-time marketing and e-commerce processes. eBureau is making predictive scoring a widespread, mainstream tool for helping companies make smarter decisions throughout their customers’ lifecycles to improve profitability and gain important competitive advantages.
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About eBureau
eBureau provides a suite of precision marketing, risk management, and fraud prevention information solutions to multichannel marketers, financial services companies, online retailers, and agencies today. Founded in 2004, eBureau has designed and built its patent-pending xTech(SM) platform, a proprietary, state-of-the-art data warehouse and real-time analytical scoring system. The company is headquartered in St. Cloud, Minn., and has received $28 million in funding from its founders, Split Rock Partners and Redpoint Ventures. For more information, please visit http://www.ebureau.com.
About Redpoint Ventures
Redpoint Ventures focuses on partnering with and funding innovative companies that have the potential to define, lead, and change industries. Redpoint partners have many decades of experience and success in technology investing; combined with this foundation, the firm is able to leverage a thriving network of entrepreneurs, partners, and industry experts to accelerate building market-leading companies. Redpoint was founded in 1999 by partners from two of the top firms in the venture capital industry, and currently has over $2 billion under management. The firm is headquartered in Menlo Park, Calif., with offices in Los Angeles and Shanghai, China. For more information, please visit http://www.redpoint.com.
About Split Rock Partners
Split Rock Partners, with offices in Minneapolis and Menlo Park, Calif., invests in emerging Internet services, software, and healthcare companies primarily in the Upper Midwest and on the West Coast. Split Rock Partners was formed in June 2004 by the Internet, software, and healthcare investment teams of St. Paul Venture Capital (SPVC), and continues to manage SPVC’s existing portfolio in these areas. Representative companies in the Split Rock Partners portfolio include Compete, Internet Broadcasting, LowerMyBills (sold to Experian in 2005), MyNewPlace, QuinStreet, and SPS Commerce. For more information, please visit http://www.splitrock.com.
