Go Internet Media Raises US $10 Million from Kennet Partners
Profitable, high-growth technology leader secures first round of external funding to support growth initiatives for AcademixDirect and RevenueLoop.
Santa Clara, Calif. (January 13, 2009) - Go Internet Media, Inc., an Internet Advertising Network specializing in customized consumer acquisition services for vertical markets, announced today that it has secured US $10 million in Series A equity financing led by Kennet, a private equity firm that provides growth equity to technology businesses in the United States and Europe.
The financing will be used to fund Go Internet Media’s continued rapid growth by expanding its sales force and strengthening its balance sheet. Javier Rojas and Gustavo Alberelli from Kennet will join Al Abhari, Founder and President of Go Internet Media, Inc., on the Board of Directors.
Go Internet Media was founded in 2004 with the mission of building practical and resource-rich vertical-market portals to help consumer marketing companies, such as post-secondary education institutions, reach and acquire highly qualified customers. Today, the company operates two profitable divisions: AcademixDirect and RevenueLoop. Popular sites include www.searchbydegree.com and www.freeeducationguide.com.
“Internet Media is a great example of a founder-led business that has been bootstrapped profitably to a sizable revenue base. Enthusiasm for the company’s services has been exceptional,” said Javier Rojas, Managing Director of Kennet.
AcademixDirect supports over 1,000 nationwide colleges’ and universities' advertising efforts by offering relevant information to their target audiences. The students are matched up with the school(s) that best fits their interests. In a matter of seconds, the lead is delivered to institutions, allowing the two to connect. This model increases appointment rates, exposure for the academic institution and ultimately, enrollment rates.
RevenueLoop is an online advertising network for publishers and advertisers. This division uses ‘crowdsourcing’ to tap a broad network of online marketing experts for selected customer acquisition programs supporting national organizations.
“The redirection of advertising budgets towards more performance-based solutions combined with the company’s innovative technology and strong customer focus have allowed Go Internet Media to experience tremendous growth despite the current economic environment,” said Gustavo Alberelli, Director at Kennet.
Al Abhari, Go Internet Media President, added, “We are confident that the alliance with Kennet and new infusion of capital will fuel the continued growth of our organization. It will allow us the opportunity to take a leading position within the Post-Secondary Education interactive marketing and Cost Per Action (CPA) affiliate marketing industries.”
About Go Internet Media, Inc.
Headquartered in Santa Clara, California, Go Internet Media has gained traction as an industry leader in lead generation for the education market. The combination of exclusive offerings, extensive industry background and strong ROI-focused philosophy uniquely positions Go Internet Media for growth. Founded in 2004, Go Internet Media operates two business units: AcademixDirect and RevenueLoop. AcademixDirect is a rapidly growing technology leader in online marketing, poised to gain market share in the post-secondary school sector, while RevenueLoop expands the company’s market reach beyond the education industry to affiliate-based online advertising. RevenueLoop.com is a 100% CPA, performance-based advertising network that matches advertising campaigns with successful publishers to drive exposure and lead generation to exclusive campaigns. The company is funded exclusively by Kennet. For more information please visit www.gointernetmedia.com
Kennet is a leading international private equity firm that invests in growth companies in North America and Europe. Kennet invests in technology and technology-enabled business services, offering expansion capital to businesses that want to accelerate growth and build exceptional shareholder value in partnership with an experienced investor. Kennet has funds under management in excess of $500 million and acts as an advisor to Kennet II and Kennet III.
Kennet Partners Limited is authorized and regulated in the U.K. by the Financial Services Authority. For more information visit www.kennet.com.
US media enquiries:
Go Internet Media - Jamie Claire, +1 408 988 9989 ext. 801, firstname.lastname@example.org
Kennet - Javier Rojas, +1 650 573 8700, email@example.com
Accelent Marketing - Theresa Maloney, +1 925 287 1509, firstname.lastname@example.org
European media enquiries:
Kennet - Su Johnston, +44(0) 20 7839 8020, email@example.com