Format Dynamics Secures Series B Financing Provider of Next Generation Print Advertising Receives $5.5 Million to fund expanded rollout in response to customer demand
DENVER, June 16, 2010 – Format Dynamics today announced it has secured $5.5 million in Series B financing, from a private investment group and existing investors.
This financing demonstrates that Format Dynamics’ offerings address the ongoing need for technology innovations that allow Web publishers to remain competitive in the digital arena. Format Dynamics is the first company to extend online advertising to the printer providing Web publishers with a new advertising channel based on an existing user behavior that already has scale. The company is poised for continued rapid growth and plans to expand product and sales offerings in response to customer demand.
“Advertisers are constantly seeking innovative and successful ways to reach consumers, especially in a market where every marketing dollar is being spent judiciously. A printed Web page demonstrates a motivated and interested reader, which affords a unique targeted marketing opportunity that was unrealized before CleanPrint,” said Ethan Holien, CEO of Format Dynamics. “This funding allows us to expand our operations and continue to create highly effective opportunities for our customers.”
Using CleanPrint, Format Dynamics’ patented software that professionally reformats a printed Web page into a magazine-like format, advertisers can deliver a highly visible, targeted ad to the printed pages of major media brands that reach their target demographic. Format Dynamics has successfully deployed this technology to brands including Hearst Digital Media, The Washington Post, The Wall Street Journal and MSNBC.com.
CleanPrint provides readers with printed pages that appear in a clean, paginated format, ensuring optimized readability and fewer wasted pages. By creating a new class of inventory, CleanPrint provides advertisers with a unique, targeted opportunity to reach their audience long after they log off.
“It is rare to find a business where all the stakeholders win,” said Dan Googel, representing the private investor group. “The end user gets a better formatted printed page and a reduction in wasted paper and ink. The advertisers reach an engaged and targeted audience who are highly likely to see their message. The web publishers get a new revenue stream while providing their users a better experience.”
“We look forward to working with Ethan and his team as they enter this next phase of growth,” he continued. With the investment, Mr. Googel will join the Format Dynamics Board of Directors.
About Format Dynamics:
Format Dynamics is the first company to extend online advertising to the printer. It is both a technology company that extends quality user and advertiser experiences from the PC to the printer and a media company that harnesses the scale of Internet printing behaviors and aggregates them to create targeted opportunities for advertisers and incremental revenue for publishers. Format Dynamics’ customers include such leading publishers as MSNBC, Fox Sports, Time Inc., Dow Jones, and Media News Group. The Denver-based company is privately held. For more information visit www.FormatDynamics.com.
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Johanna Erickson, 104 West Partners