Adknowledge has sold minority ownership to Technology Cross Ventures for $48 million. Adknowledge will use the funding for market expansion and future plans.


Adknowledge has sold minority ownership to TCV for $48 million. Adknowledge will use the funding for market expansion and for its plans for the future.

Scott Lynn, chief executive officer of Adknowledge, said: “Out of all the firms we considered, TCV was our number one choice because of its specific focus and proven track record in late-stage technology company investments.

Throughout the diligence process, TCV began lining up several multi-million dollar relationships and discussing our strategic plans for 2006. The TCV team’s insight and industry connections already are playing an important role in helping us to evolve our business for accelerated growth and market expansion.” [Source]

Adknowledge is an online contextual marketing company which provides tools for tracking and measuring ROI. Adknowledge also provides services to website owners who want to outsource their banner or email advertising sales.

TCV provides growth capital to technology companies. TCV uses a crossover investment model, combining venture capital with public market investing.

 

 

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