Adara Secures $20 M in Financing Led by QuestMark Partners
MOUNTAIN VIEW, Calif., February 21, 2013-- Global marketing solution Adara Inc. is pleased to announce it has secured $20 million in a financing round led by QuestMark Partners, an expansion-stage venture capital firm providing growth capital to exceptional management teams across the United States. Previous investors August Capital, Morgenthaler Ventures, ONSET Ventures and Thayer Ventures also participated in the round. Adara has been steadily growing and innovating as a proven leader in first-party data-driven advertising, and this funding round follows exponential revenue growth from its clients, including the top brands from travel, retail and financial services. Working with complex customer data sets and valuable audience segments, such as frequent flyers, business and international travelers, Adara enables top brand advertisers to connect with a highly desired consumer base via cross-screen channels. QuestMark's interest is a sign of Adara's continued strong growth and traction, and the backing will fuel exciting new product developments and launches as well as international expansion.
This financing will fuel increased investment and growth in Adara's award winning solution, The Global First Party Data Platform. Through this, Adara offers the top travel brands and advertisers a 360-degree view into their audience, based on real, proprietary customer data. They offer a cross-screen solution with key insights, enabling blue chip travel brands and advertisers to send the right content to the right audience. First-party data such as transactional data, data from loyalty programs, and lifestyle and demographic data sourced directly from trusted brands, are the most relevant tools for advertisers to deliver highly personalized and effective premium display ads, yielding far better results compared to third-party data.
"This new round of funding represents continued investment in the growth of our business," says Layton Han, chief executive officer of Adara. "Adara is focused on delivering new data-driven products to the marketplace, and this financing will accelerate new product development as well as increase the pace of our international expansion."
Ben Schapiro and Nick Superina of QuestMark led the investment in Adara. "Adara's platform derives unique and highly-differentiated insights from its proprietary data and uses these insights to help advertisers run highly-targeted ad campaigns with market-leading performance," said QuestMark founder and Partner Ben Schapiro. "Adara's business is growing rapidly, and we're excited to partner with this excellent management team and the current investor group in support of Adara as it continues on its path to become a large company."
Adara's industry leadership has been acknowledged through many industry awards including AlwaysOn OnMedia 100, Red Herring North America, and the Mega Awards, hosted by Airline Information.
To learn more about Adara, please visit: www.adaraglobal.com
Adara offers a proprietary audience platform that enables top brands to monetize and nurture their loyalty program customers online and helps advertisers reach exclusive, qualified audiences. Using proprietary first-party data, Adara enables advertisers to reach real individuals, ensuring authenticity while maintaining complete anonymity. Adara's data partners then gain ancillary revenue streams and the ability to deepen their relationships with customers through targeted offers and consistent communication. Adara was founded in 2005 and is headquartered in Mountain View, CA.
About QuestMark Partners:
QuestMark Partners is an expansion-stage venture firm providing growth capital to exceptional management teams across the U.S. With over $750 million under management, QuestMark targets highly-differentiated, often category-creating companies with the commercial traction and strategic position to support long-term standalone success. Since its founding in 1998, QuestMark's collaborative, insightful, and patient approach to company building has helped many entrepreneurial teams grow and succeed as market leaders across a range of industries. For more information, please visit: www.questmarkpartners.com.
About August Capital:
Founded in 1995, August Capital has funded an extraordinary group of entrepreneurs who have built significant, long-term value across the full range of information technologies. These companies represent an aggregate market capitalization of well over $250 billion and generate in excess of $75 billion in annual revenue around the world. This success is a testament to the entrepreneurs themselves, as well as the fundamental technologies they have created. August Capital has invested in more than 90 companies including Adchemy, Atheros, Cobalt Networks, Ebates, Postini, Reputation.com, SayMedia, Seagate Technology, Splunk, Xirrus, and Zulily. The firm's partners have previously invested in a number of ground breaking technology companies, including Actel, Adaptec, Compaq, Grand Junction, Intuit, Linear Technology, Microsoft, MMC Networks, Skype, Sun Microsystems, Sybase, Symantec, and Visio. August Capital is located in Menlo Park, California. For more information, please visit: www.augustcap.com.
About Morgenthaler Ventures:
Morgenthaler Ventures is a premier venture capital firm, dedicated to helping entrepreneurs build valuable companies for more than 40 years. Today, the firm has nearly $3 billion under management. Morgenthaler Ventures has invested in approximately 300 companies in the information technology and life science sectors. Representative portfolio companies in the IT space include: Adara, Evernote, Lending Club, Practice Fusion, Pageonce, Fundly, SohoOS, Socrata, Rhythm NewMedia, NexTag, Nominum, Voltage Security, JasperSoft and MuleSoft. Morgenthaler Ventures is headquartered in Menlo Park, CA. For more information, please visit: www.morgenthaler.com.
About ONSET VENTURES:
ONSET Ventures specializes in providing start-up, follow-on, and intellectual capital to entrepreneurs and early-stage technology ventures, to help transform world-class ideas into sustainable and valuable businesses, through a process of "venture craftsmanship." The firm has partnered with start-ups since 1984 and has more than $1 billion under management. ONSET Ventures is located in Menlo Park, California. For more information, please visit: www.onset.com.
About Thayer Ventures:
Thayer Ventures is the only venture capital firm specifically focused on the hospitality and travel space. Since its founding in 2009, the firm has partnered with entrepreneurs to create, develop and build technology companies that seek to revolutionize the hospitality travel industry. Based in San Francisco, Thayer Ventures currently supports some of the world's leading travel technology companies, including Hipmunk, hotelme.com, Nor1, Adara Media, Duetto Research, newBrandAnalytics, ID90T and TourWrist. Additional information is available on the company's website: http://www.thayerventures.com.
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