MeasureCast Secures $3 Million in Funding

MeasureCast, which provides third-party audience size and demographic information for webcasters announced that it has raised $3 million in phase one of its second round of financing. The round was led by Seattle-based FBR CoMotion Venture Capital. founded in 1999.

MeasureCast, founded in 1999, has indicated it will use the funds for product and business development, customer support, and sales and marketing. In its first round of funding in April 2000 the company raised $3.5 million from FBR CoMotion and individual investors.

"This latest cash infusion is further proof that the MeasureCast Streaming Audience Measurement Service, and its underlying technology, is on track to become the streaming broadcast audience measurement standard," said MeasureCast CEO Ed Hardy. "Credible third-party audience measurement is a must for Internet radio and the rest of the streaming media industry as it gives advertisers and ad agencies the information and the confidence to make critical on-line buying decisions."

MeasureCast releases weekly rankings of its client's Internet Radio Stations, and offers industry analysis based on data collected on those stations.