Crisp Media Raises $6 Million in New Capital from Meritage, Intel, and Singapore's EDBI to Fund Growth and International Expansion
Investment Supports Global Sales of Crisp Engage, the Industry’s Only Open Rich Media Ad Management Platform
NEW YORK – April 28th, 2011 – Crisp Media, the leader in cross-platform rich media advertising, announced today that it has raised $6 million in growth capital. Existing investors, Meritage Funds and Intel Capital were joined in the financing by Singapore’s leading global fund EDBI (EDB Investments Pte Ltd). This growth capital will be used to fund international expansion and propel the growth of Crisp Engage, the company’s recently introduced self-service rich media ad management platform. In order to better serve its growing international customer base, Crisp intends to set up a presence in Singapore, to be co-located with the Asian headquarters of global advertising agencies, and to serve rapidly increasing display advertising demand from booming mobile markets across the APAC region.
Ms Chu Swee-Yeok, CEO of EDBI said: “Crisp has an impressive track record of top notch premium publishers leveraging on its open advertising platform to deliver innovative and branded mobile rich media advertising campaigns worldwide. The decision to locate its Asian headquarters in Singapore accelerates the rollout of Crisp’s solutions to its customers and partners in Asia, and strongly positions Crisp to ride the wave of rapidly growing demand for smart mobile devices in Asia. EDBI looks forward to actively assisting Crisp to navigate the regional markets and tap on new business opportunities in Asia to expand its global footprint.”
“Brands everywhere want to engage with mobile consumers.” said Boris Fridman, CEO of Crisp Media. “This funding allows us to meet the growing demand of global agencies and publishers for rich media ads and to drive the diffusion of the Crisp Engage platform throughout the Asia Pacific region.”
Crisp delivers award-winning mobile display advertising campaigns across premium publishers such as CBS, CNN, ESPN and Yahoo!; and top ad networks like Jumptap, Millennial and Mojiva. This unparalleled reach is why agencies have chosen Crisp for their mobile ad serving needs. Top brands like GM, Ford, Toyota, VW, IBM, Intel, HP, P&G, Unilever and Coca-Cola and many others use the Crisp platform to extend their digital campaigns to mobile.
We are pleased to have EDBI join the investment syndicate at Crisp,” said Derek Pilling, Managing Director of Meritage Funds. “Crisp has established itself as the leading unified rich media ad delivery platform. This financing will enable the Company to bring its best of breed rich media ad serving capabilities and open, publisher-friendly architecture approach to native apps and browser environments across the globe.”
Crisp is a pioneer of mobile ad products that make HTML5 advertising scalable across device platforms for native apps and browsers. The new Crisp Engage, self service ad management platform, enables agencies to easily build, manage and measure rich media advertising campaigns on connected devices. Crisp is also a founding member of the Open Rich Media for Mobile Advertising (ORMMA) standard API, an Open Source project for letting agencies deliver HTML ads to native applications. Leading brands including Estee Lauder, HBO, Intel, Marriott, Paramount Pictures, Toyota, Volkswagen, and others have utilized Crisp ads. For more information, visit http://www.crispmedia.com.
EDBI (EDB Investments) is a leading strategic investment firm headquartered in Singapore with a worldwide presence investing to drive growth opportunities within the knowledge and innovation-intensive sectors of Biomedical Sciences, Clean Technologies, Internet & Digital Media, as well as other strategic industry clusters with commercial potential. As a value adding investor, EDBI creates sustainable and synergistic partnerships with its portfolio companies, leveraging on its broad network of resources and experience to facilitate the companies’ organic growth in Asia and the world, through their operations in Singapore. For more information on EDBI, please visit http://www.edbi.com.
About Meritage Funds
Founded in 1998, Meritage Funds is a Denver-based manager of private investment funds. The Meritage Team is a unique blend of investment and operating talent. We contribute both capital and expertise to every investment that we make, working as a partner with entrepreneurs to accelerate the growth of their businesses. We invest in companies that leverage connectivity to offer services that enable communications, deliver content, or facilitate commerce. In total, Meritage Funds manages three investment funds representing more than $600 million in committed capital.
About Intel Capital
Intel Capital, Intel's global investment organization, makes equity investments in innovative technology start-ups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software, and services targeting enterprise, home, mobility, health, consumer Internet, semiconductor manufacturing and cleantech. Since 1991, Intel Capital has invested more than US$9.8 billion in over 1,100 companies in 48 countries. In that timeframe, 189 portfolio companies have gone public on various exchanges around the world and 258 were acquired or participated in a merger. In 2010, Intel Capital invested US$327 million in 119 investments with approximately 44 percent of funds invested outside the United States and Canada. For more information on Intel Capital and its differentiated advantages, visit www.intelcapital.com.
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