Bizo, a company offering technology to help advertisers reach a business audience, has raised $10 million in a Series B round of funding.
The company has now raised a total of $20 million. Crosslink Capital led the round, and the firm’s newest partner David Silverman is joining Bizo’s board of directors. Existing investors Bessemer Venture Partners and Venrock also participated.
Bizo’s ad platform includes ad targeting and audience analytics, and it uses that platform to sell both brand display and direct response ads. CEO Russell Glass says Bizo now reaches 80 percent of the business audience in the United States, whether they’re making purchase decisions in the office or at home.
At the end of last year, Bizo claims it reached an annual revenue run rate of $18 million. It also says that there are more than 400 leading brands using its technology, and that new publisher partners include Forbes, Crains B2B, PC World, and Thomson Reuters.
Bizo has been working on new technologies too, Glass says, for example by investing social marketing and video tools. However, one area that it hasn’t emphasized is mobile. Glass says the ad spending just isn’t there yet, though “we know it’s coming.”
He adds that as the company expands, “Bizo’s focus remains on helping marketers more effectively reach business professionals.”
The company spun off from ZoomInfo.
Bizo is how B2B marketers identify and reach their target audiences online. Fueled by Bizo’s audience of more than 120 million professionals around the world, including more than 85% of the U.S. business population, the Bizo Marketing Platform can precisely target business people by specific business demographic criteria. Bizo’s customers use the platform’s data management and targeting capabilities to reach audiences anywhere they travel online and engage those that come to their websites, landing pages, and social channels. Bizo has...
Glass is a serial technology entrepreneur, having founded or held senior positions at four venture-backed technology companies. He is currently the CEO of Bizo, a B2B advertising network that spun out of ZoomInfo. While at ZoomInfo, a business information search engine, Russ lead the marketing and product management teams, where he sharpened his B2B marketing skill-set and developed his love for business data. Other than business data, Russ’s passions include golf, anything in high def, and Duke basketball.
Crosslink Capital is a leading stage-independent venture capital and growth equity firm with over $1.5 billion in assets. Crosslink, which traces its roots back to 1989, was among the first and largest investment firms in the U.S. to integrate public and private growth investing in three families of funds: venture capital funds, long/short hedge funds and a unique hybrid crossover fund. This strategy allows Crosslink to partner with its portfolio companies on a long-term basis. With more than 20...
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