RAMP secures $15 Million Series C Financing led by StarVest Partners
New investors StarVest Partners, Hearst Interactive Media, and EDBI join existing RAMP investors Fairhaven Capital, Accel Partners, General Catalyst Partners, and Comcast Ventures
Boston, MA & New York, NY(27 Sep 2012)
RAMP, the leader in next generation search and video experiences, announced today a Series C financing led by New York-based StarVest Partners. As part of the transaction, Deborah Farrington, co-founder and General Partner at StarVest will be joining RAMP’s board of directors. StarVest is also joined by Hearst Interactive Media and EDBI as new investors in RAMP, along with participation from existing RAMP investors Fairhaven Capital, Accel Partners, General Catalyst Partners, and Comcast Ventures. This round brings the total capital raised to $40 million for the company.
To date, RAMP has built a leadership position in helping media companies create more value from their digital content assets, including digital video, using its patented MediaCloud platform, including brand names such as Comcast, Fox, ABC, Meredith, Hearst, NFL and others. In addition to the continued investment and expansion of its leading media solutions, the new financing will enable enterprises to get more value from online video than previously possible. RAMP’s unique approach and core intellectual property delivers a comprehensive solution for enhanced video search, content management, indexing, and publishing, and easy integration and connections to popular enterprise content platforms such as Microsoft SharePoint. RAMP’s scalability will also enable aggressive global expansion to replicate the success from its North American customer base.
“StarVest has deep experience funding companies with cloud-based business models and companies,” said Deborah Farrington, of StarVest Partners. “RAMP has created a highly scalable business with a dynamic team serving the explosive opportunities resulting from the growth in video use across media companies and is now poised for success in the enterprise.”
“RAMP has developed robust capabilities and is serving many of Hearst’s digital media properties. The team’s vision for what’s next in online video is incredibly compelling,” said Darcy Frisch, vice president, Hearst Interactive Media. “We're excited to help the Company capitalize on major growth opportunities ahead for both media and enterprise.”
“We are thrilled to add such a prestigious group of new investors to the company,” said Tom Wilde, CEO of RAMP. “This financing is great validation for both the unique technology we have developed and successful business model we have built to date, as we capitalize on the terrific growth opportunities we see ahead.”
RAMP was advised by Montgomery & Co. on this financing.
RAMP has developed the Web’s first Content Optimization platform and is the only universal solution for all types of web content – video, audio, text and images. Using RAMP, clients are able to fully leverage the value of all of their content assets by driving increased discovery across search and social sites, enhance user engagement through dynamic search and publishing solutions, and maximize revenue through sophisticated advertising capabilities. Leading publishers using RAMP include –Thomson Reuters, FOXNews, ABCNews, NBC, Dow Jones, Meredith, and others. For more information visit: RAMP.com, or contact us at info@RAMP.com.
About StarVest Partners
StarVest Partners is a New York-based venture capital firm with $400 million under management that is funding technology-enabled business services companies throughout the United States. The firm's value-added partnership maintains a focus on emerging technology and services sectors including: Cloud-based companies, eCommerce services, Ad Tech and Data Analytics. StarVest was an early investor in the software-as-a service trend: in 2000, it invested as the only venture firm in NetSuite (NYSE: N). Other noteworthy exits include MessageOne, acquired by Dell computer; Connected, acquired by Iron Mountain; iCrossing acquired by Hearst; Insurance.com acquired by QuinStreet; and Fieldglass acquired by Madison Dearborn. Recent investments include: Host Analytics, Switchfly, The Receivables Exchange, Veracode and Xignite. The firm's general partners are Deborah A. Farrington, Laura B. Sachar, Jeanne M. Sullivan and Larry A. Bettino. More information about StarVest is available at the company's Web site: www.starvestpartners.com.
About Hearst Interactive Media
Hearst Ventures, part of Hearst Interactive Media, is a venture capital organization focused on investment opportunities in innovative early-stage companies operating at the intersection of media and technology. The group is the strategic venture investment arm of Hearst Corporation, one of the nation's largest diversified media and information companies. Hearst's major interests include magazine, newspaper and business publishing, cable networks, television and radio broadcasting, Internet businesses, TV production and distribution, newspaper features distribution, business information and real estate. Hearst Ventures has invested in more than 50 companies in its 15 years of operation. For more information, visit www.hearstinteractivemedia.com.
EDBI is a leading strategic investment firm headquartered in Singapore with a worldwide presence investing to drive growth opportunities within the knowledge and innovation-intensive sectors of Biomedical Sciences, Clean Technologies, Internet & Digital Media, as well as other strategic industry clusters with commercial potential. As a value adding investor, EDBI creates sustainable and synergistic partnerships with its portfolio companies, leveraging its broad network of resources and experience to facilitate the companies’ organic growth in Asia and the world, through their operations in Singapore.