Press Release - June 25, 2007
Lijit Networks, Inc. Secures $3.3 Million Series B Investment Round Led by Boulder Ventures
Investment supports platform and team expansion, fueling exponential growth.
Louisville, CO - June 25, 2007 - Lijit Networks, Inc., a company that provides revolutionary search tools and statistics for blog publishers, announced today that it has secured $3.3 million in Series B funding. The round was led by Boulder Ventures, who joins existing investors, Colorado Fund I, managed by High Country Venture, and Brad Feld. The investment is designed to fuel Lijit's continued exponential growth, as more and more publishers adopt Lijit's service and technology.
"Lijit provides tangible value to both readers and publishers by delivering highly relevant search results and turning search interactions into compelling statistics", remarks Peter Roshko, General Partner at Boulder Ventures, who will join Lijit's Board of Directors. "Publishers have very few feedback channels that help them better understand and serve their reader community. With this investment Boulder Ventures can help Lijit capitalize on their success to date in fulfilling this need and take their services to the next level."
Lijit's search service allows readers to search blog publishers' posts, bookmarks, blogroll, and more from a widget placed on the publisher's property. "Lijit's Search Wijit turns my technology industry interests and expertise into a powerful resource for my readers," says Dr. Paul Kedrosky, venture capitalist, media personality, entrepreneur, and author of one of the best known business blogs on the Internet, Infectious Greed. "I'm able to use Lijit's search statistics to understand what brings readers to my blog, what they search for while they're there, and which results they find most useful. It's given me valuable insight into my reader community."
Creating and maintaining a personalized Lijit Search Wijit is very quick and simple, thanks to Lijit's automated identity and network discovery technology. "Each month Lijit's search capability is seen over 8 million times on publishing properties across the Internet, which is a testament to the service's value and ease of use," comments Todd Vernon, CEO of Lijit. "This investment will allow us to keep pace with our growth curve, continue development of new and exciting features, and explore new partnering opportunities."
About Boulder Ventures, Ltd.
Boulder Ventures manages over $300 million in venture capital partnerships, making equity investments in start-up, early stage, and emerging growth companies. Boulder Ventures primarily seeks opportunities in enterprise software, Internet-based business applications and services, communications infrastructure and services and life sciences tools and services. Boulder Ventures works in partnership with entrepreneurs, providing easily accessible, active support to develop novel business concepts into important companies. Boulder Ventures has offices in Owings Mills, Maryland and Boulder, Colorado. For more information, visit www.boulderventures.com.
About High Country Venture
High Country Venture manages Colorado Fund I (www.coloradofund1.com), a venture capital fund seeking to invest in seed and early stage businesses in Colorado. To date, the fund has made several investments in various industries including life sciences, information technology, and retail. It is located in Boulder, Colorado.
About Lijit Networks, Inc.
Lijit Networks, Inc. was incorporated in June 2006. The Lijit service was developed to search people, their content, and connections in order to deliver search results with unprecedented relevance. The company is led by Todd Vernon, CEO. Vernon, a founder and former CTO of Raindance Communications, brings to the team his management experience in the high-tech sector and enthusiasm for leading-edge web technologies. Stan James, founder and CTO of Lijit, brings years of research in social trust and a portfolio of intellectual property in the space. www.lijit.com
Sonya Caprio, Director of Marketing
sonya at lijit dot com