Tuesday, August 24, 2010
Brand Affinity Technologies Gets $20M
Irvine-based Brand Affinity Technologies, the latest startup headed by Ryan and Chad Steelberg, announced today that it has raised $20M in a Series C funding round. The round was led by Miramar Venture Partners, and also included prior investors Newport Coast Investments, RimLight Capital, Fulcrum Venture Capital, and ad pepper media International. Other investors also include the CGI Opportunity Fund II, the investment vehicle of the Ueberroth Family. BAT operates a celebrity endorsement and marketing firm. BAT said the new funding comes as it expects to double its year-over-year revenues to $30M in 2010. Ryan and Chad Steelberg are best known for their sale of dMarc to Google in 2006. The two also founded AdForce (sold to CMGi) and 2CAN Media (sold to CMGi). Brand Affinity Technologies said it has over 3,600 celebrities using its platform, including such celebrity sports players as Drew Brees (NFL), Jorge Posada (MLB), Rajon Rondo (NBA), Brooks Robinson (MLB), Walt Frazier (NBA), and Lennox Lewis (Boxing). More information »