It's a good day at Sportgenic

Today was a good day for Sportgenic. We announced the closure of our Series B funding round for $10M.  The round was lead by Adams Street Partners and includes participation from all of our preferred investors – KPG Ventures, Alsop-Louie Partners and Greycroft Partners.  

 

We are at an exciting time in our company and are seeing great sign posts:

• Sales success with new advertisers (partial list): Reebok, EA, REI (4 Different Campaigns), Degree, Secret, Mountain Dew, E*TRADE, FRS, Freestyle, Endless Pools, VW, Killer Dana and Pepsi.

Check out the EA brand wrap on Bullshido.net (a very popular Mixed Martial Arts Site in our network) - http://www.bullshido.net/

• Comscore ranking: We hit #2 in Comscore’s Ranking for Sports in July with over 20+ Million uniques and almost 400 partner sites.

• White Paper: We released a thought leadership piece on Vertical Networks for buyers to help better understand our value.

• Kevin Granath, SVP Sales & Business Development: We are excited to have Kevin join us to lead our sales efforts. Kevin brings extensive experience to our management team from ESPN, Ansible Mobile, and Excite Network.

• Employee milestone: We just hit 40 people at Sportgenic.

So what’s next?

We continue to accelerate our growth both on the advertiser and publisher side. Being the largest Sports Media company is very much in line of sight. We are investing in building out our sales teams, providing them marketing air cover and the technology necessary to continue to enhance our leadership position. We believe the sign posts we have received from the market are very positive and expect good solid growth for 2009. We face an exciting challenge as we transition out of start-up mode and into a growing, established business. This comes in hiring the right people, implementing the right processes and making sure we continue to listen to our customers.

Thank you for your continued support.