Reliacast Secures $35 Million in Private Funding
In its second round of financing, Reliacast (www.reliacast.com), an Internet infrastructure software company for audience management, raised $35 million. The round was co-led by SCP Private Equity Partners, a Safeguard Scientifics sponsored fund and Generation Partners, a $325 million technology venture capital firm.
Nick Troiano, principal, SCP Private Equity Partners, and Mark Jennings, managing director, Generation Partners, joined the Reliacast board of directors.
Many previous investors returned for this round, including the first round lead investor, Viridian Capital Partners, as well as Main Street Advisors, Thomas Weisel Partners, executives of Thomas H. Lee & Co. and First Union Capital Partners. Sun Microsystems, a Reliacast alliance partner, participated in the round as a strategic investor.
Relicast, based in Herndon, VA, provides software that enables businesses to measure, manage, control, bill and scale mass audience events on the Web. The funding raised will be used to continue product development for the company's network-based Internet audience management solution, along with expanding its sales, marketing and engineering teams.
"We see tremendous growth potential in the audience management market in the next several years, and the Reliacast Solution is a critical component to driving ROI for CDNs, ISPs and Internet content providers," said Troiano.