Bellevue-based AudienceScience Gets $15M Financing Deal For Targeted Digital Advertising

10/15/09Follow @xconomy

AudienceScience, the Bellevue, WA-based company that helps advertisers connect with targeted audiences online, has pulled in about $4 million in new equity financing as part of a total deal worth $15.1 million, according to a regulatory filing.

The new cash infusion is actually only one component of the transaction, which includes $10.8 million worth of debt issued last year that’s now been converted into preferred stock. The total value of the deal is $15.1 million, with potential to go as high as $20 million, according to the filing. The document doesn’t say who invested in the company, but Mayfield Fund, Mohr Davidow Ventures, Integral Capital Partners, and Meritech Capital Partners are listed on the company’s website as investors. A spokesperson for the company didn’t immediately respond to a request for comment.

AudienceScience, formerly known as Revenue Science, says on its website that it was started in 2000 and now serves more targeted online ads worldwide than any other company. The company’s technology works by monitoring the sites people visit, the articles they read, and the searches they run, to form a picture of their interests, according to the company’s website. The data is not personally identifiable, the company says, but it is stored in massive data warehouses and segmented for online advertising. The company says it records “billions of behavioral events daily” and reaches more than 385 million unique visitors on the web. AudienceScience counts the Financial Times, New York Times Digital, Reuters.com, and the Wall Street Journal Digital as clients.

According to the regulatory filing, the directors of AudienceScience include John Cunningham of Clear Fir Partners; Yogen Dalal of Mayfield Fund; Bill Ericson of Mohr Davidow Ventures; Bill Gossman of Hi5; Rob Ward of Meritech; Rishad Tobaccowala of Denuo; and AudienceScience’s CEO, Jeff Hirsch.

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