Enquisite is well positioned to solve the problem facing advertisers and agencies hard pressed to prove the ROI of their online marketing investments
San Francisco, CA (PRWEB) February 10, 2009
Enquisite, Inc., a leading provider of search marketing automation and monetization solutions, today announced that it has secured $8 million in Series B funding. Castile Ventures and Formative Ventures led the investment. Enquisite also announced that Skip Besthoff, general partner, Castile Ventures, and Dino Vendetti, general partner, Formative Ventures, have joined Enquisite's Board of Directors.
Other participants in the Series B round are investors from the Series A round, including lead Series A investor, The Entrepreneurs' Fund III, and Retro Ventures.
"Enquisite's disruptive solutions will bring unprecedented insights to the search marketplace and, with it, significant value to its customers," states Besthoff. "Given my prior success with (Enquisite CEO) Mark Hoffman, I am excited to work with him again and also now with Enquisite's founder, Richard Zwicky. Their joint vision and expertise makes them a winning combination."
"Enquisite is well positioned to solve the problem facing advertisers and agencies hard pressed to prove the ROI of their online marketing investments," says Dino Vendetti, general partner, Formative Ventures. "The combination of its innovative pay-for-performance model, solid leadership, deep domain expertise and leading-edge technology puts Enquisite in a unique position to realize the full potential of online marketing monetization," he says.
"We are delighted to close a significant Series B round given the current economic climate," says Mark Hoffman, Enquisite CEO. "Investors have enthusiastically responded to Enquisite's innovative campaign optimization solution and pay-for-performance model, which deliver unprecedented value to customers, with the satisfaction of measurable returns."
Hoffman says the Series B round will be used to further drive product innovation and market adoption for performance-based online marketing solutions.
"Customers are rapidly embracing Enquisite's compelling value proposition," says President and Founder Richard Zwicky. "Leading digital agencies have adopted Enquisite solutions to win new business and increase revenue opportunities." New customers include ZAAZ, Netconcepts, Bruce Clay and HSR Business to Business.
About Castile Ventures
Castile Ventures is a top-performing early-stage venture capital firm that provides financial backing and strategic guidance to help exceptional entrepreneurs build successful businesses. Distinguished by the deep business and technology experience of its partners, Castile brings a unique blend of sector expertise, investment know-how, operational insights, and connections to IT decision makers. Since our founding in 1998, the companies we have invested in have brought to market a broad range of products and services to serve the technology needs for enterprises, service providers and the mass market. These have ranged from disruptive enabling technologies through next-generation service infrastructure and delivery platforms to leading edge security solutions and innovation-enabled Internet services. More information is available at http://www.castileventures.com.
About Formative Ventures
Founded in 2000 and based in Menlo Park, CA, Formative Ventures is a leading early-stage venture capital firm that invests in the industry's next-generation emerging technologies leaders in areas such as communications, wireless, and next-generation Internet solutions. The founders of Formative Ventures believe that in today's tough environment, technology start-ups are looking for investors with "real-world" start-up experience, and in very specific areas such as sales and marketing processes, scaling an organization for revenue, or launching a product line. That's why they each have more than 20 years of "in the trenches" operational experience to complement their investment track records.
About Enquisite Inc.
Founded in 2006, Enquisite, Inc. is the leading provider of search marketing automation and monetization solutions. Through its suite of applications and innovative business model, the company aims to bolster search marketing by providing marketers with vital insight into user behavior, intent, and actions, and a quick path to monetization.
Powered by Enquisite's leading-edge Data Collector, the Enquisite product family includes: Enquisite Campaign - a groundbreaking campaign monetization solution, Enquisite Pro - an award-winning analytics application, and PPC Assurance - an advanced click auditing service.
Enquisite has offices in San Francisco, CA, Victoria, BC and Seattle, WA.