RingRevenue Completes $3.5 Million Series A Financing
Commission Junction partners with RingRevenue to offer pay-per-call services.
SANTA BARBARA, CALIF. – June 3, 2009 -- RingRevenue, Inc. today announced it has closed its $3.5 million Series A venture financing led by GRP Partners together with Rincon Venture Partners and Great Pacific Capital. RingRevenue provides its pay-per-call platform to leading affiliate networks and agencies, including Commission Junction. With RingRevenue, advertisers can drive higher value sales through a proven performance-based channel, creating a growth opportunity for both publishers and affiliate networks. Now you can track calls like clicks.
The RingRevenue founding management team includes CEO Jason Spievak, COO Robert Duva and CTO Colin Kelley, telephony industry veterans who were responsible for the successful growth and IPO of their last company. Mark Suster of GRP Partners and John Greathouse of Rincon Venture Partners have joined RingRevenue's board of directors.
"Pay-per-call marketing represents an enormous opportunity because 90% of the $300 billion a year U.S. advertising market is still offline," said Mark Suster, partner at GRP Partners. "RingRevenue's platform brings the visibility of online ad tracking to that much larger offline market."
"We're excited to work with GRP, Rincon and Great Pacific," said Jason Spievak, RingRevenue co-founder and CEO. "Securing top-tier funding in this market is really a testament to the progress we've made with our product and our customers. It certainly is not an environment that has been easy for entrepreneurs."
"We invested in the RingRevenue team because they have the experience managing millions of numbers and billions of calls," said John Greathouse of Rincon Venture Partners. "They are second-time entrepreneurs who grew an internet telephony company from startup to profitability and an IPO exit. In this market that's golden."
About RingRevenue, Inc.
RingRevenue tracks and manages calls even better than clicks. We make it easy for affiliate networks and advertising agencies to track purchases made by phone. Our patent-pending pay-per-call platform makes it easy for online and offline publishers to promote call-based campaigns through the leading affiliate networks, and our proprietary call quality processing engine ensures delivery of the highest-quality callers to advertisers. For more information about RingRevenue or to schedule a demo, please visit www.ringrevenue.com or call 866-943-6426.
About Commission Junction
Commission Junction, a ValueClick company, is a global leader in the online advertising channels of affiliate marketing and managed search. We drive quality results, deliver superior service, and develop sustainable relationships for advertisers and publishers through our performance-based solutions. Commission Junction operates the only truly global network in affiliate marketing while setting the industry standard for network quality and providing the most sophisticated reporting tools available. www.cj.com
About GRP Partners
Formed in 1996, GRP Partners has invested in some of the leading global brands - companies that are household names today. With professionals in Los Angeles and London, GRP manages approximately $1 billion, making it the largest fund in Southern California. It recently closed a new $200 million and is actively investing. GRP's investments include Overture, Bill Me Later, DealerTrack, Costco and Starbucks. www.grpvc.com
About Rincon Venture Partners
Rincon Venture Partners aligns itself with extraordinary entrepreneurs and supports them as they build world-class businesses. Based in Santa Barbara, CA, Rincon invests in early stage software- and web-based businesses in Southern California with proven revenue models and capital-efficient operating plans. www.rinconvp.com
About Great Pacific Capital
Great Pacific Capital is an early stage venture fund active in Santa Barbara and Ventura Counties. Great Pacific backs entrepreneurial teams with a demonstrated ability to apply technology to solve a problem and grow a business. As both investors and successful entrepreneurs, Great Pacific is very accessible and brings unmatched value to its portfolio companies, applying a high-touch approach with start-up to successful exit experience.