Moving From Search To Full Service Digital Marketing, iCrossing Raises $62 Million For Expansion
Interactive marketing shop iCrossing raised $62 million from a fifth round, bring its private equity total to a hefty $110 million. The round was led by Goldman Sachs, with return backers Oak Investment Partners, RRE Ventures and StarVest Partners also participating. The Scottsdale, AZ-based company received $15 million in a fourth round last July; that round expanded to $30 million. Founded in 1998 as a search marketing agency, iCrossing has evolved into a global digital marketing agency. Over the past year, iCrossing has acquired paid-search agency NewGate Internet, U.K. social media company Spannerworks, and marketing technology provider Sharp Analytics. The company’s clients include Travelocity, Coca-Cola, General Motors and Office Depot. Release
SEE ALSO: After Digitas, Ad Agencies Look To Next Big—Or Even Small—Digital Acquisitions
—TheDeal (sub. req.): CEO Jeffrey Herzog said more acquisitions are likely before year’s end and hinted at an interesting announcement next week.
—TechConfidential: This current capital infusion demonstrates the speed with which internet search is grafting onto the general online advertising business. The company has also begun offering mobile and social media marketing services.
Posted In: Advertising, Marketing, Search, Technologies / Formats
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