Monitor110 Announces $11 Million in Series C Funding
Draper Fisher Jurvetson, Draper Fisher Jurvetson Gotham Ventures, Acadia Woods Partners and Other New High Profile Investors Participate in Round
NEW YORK–(BUSINESS WIRE)–October 30, 2006 — Monitor110, Inc., developer of the real-time Internet monitoring service for Institutional Investors, today announced the closing of an $11M Series C round of financing with new and existing investors. The Company will use the funds to expand customer support, grow its sales organization and continue its leading-edge product development. Including this financing, Monitor110 has raised more than $20 million since its inception in December 2003.
Draper Fisher Jurvetson (DFJ) led the Series C round and was joined by existing Series B investors DFJ Gotham Ventures, Acadia Woods Partners and a select group of prominent Wall Street and Technology leaders. New investors include renowned angel investor Ron Conway, founder of San Francisco-based Angel Investors.
“The importance of the Internet as a resource for Hedge Funds and Institutional Investors grows every day” said Jennifer Fonstad, Managing Director of Draper Fisher Jurvetson “We are excited to increase our support of the Monitor110 team to enable them to focus on rolling out their unique subscription service and giving investors the tools they need to make better investment decisions.”
Roger Ehrenberg, President and Chief Operating Officer of Monitor110, said “We were in the fortunate position of being well-funded and not currently in the market for additional financing. DFJ’s leadership in driving the Series C round enables us to bring laser focus to our core mission — helping our clients make money by leveraging the powerful algorithms and analytical tools underlying the Monitor110 application.” Jeff Stewart, Chairman and Founder of Monitor110, added “This investor support enables us to build a world-class product development and customer service organization, solidifying our role as a leader in 21st century financial intelligence tools.”
About Monitor110, Inc.
Representing the intersection of Wall Street, high technology and successful entrepreneurship, the Monitor110 team has a laser focus on Hedge Funds and Institutional Investors and creates intuitive tools of unprecedented power to help them monetize the Internet. Monitor110 is revolutionizing the world of financial services information. Today, an elite group of progressive Institutional Investors uses Monitor110’s premium subscription service to access, analyze and monetize Internet information in a manner previously impossible.
About Draper Fisher Jurvetson
Draper Fisher Jurvetson (DFJ) is the only venture capital firm with global presence through a network of affiliated funds, with offices in more than 30 cities around the world and approximately $3.5 billion in capital commitments. DFJ’s mission is to identify, provide capital for, and serve extraordinary entrepreneurs anywhere who want to change the world. Over the past twenty years, DFJ has backed approximately 300 companies across a myriad of sectors including such industry-changing catalysts as Hotmail (acquired by MFST), Baidu (BIDU), Skype (acquired by EBAY), United Online (UNTD), Overture (acquired by YHOO), Interwoven (IWOV), 411 (acquired by YHOO), Parametric (PMTC), Digidesign (acquired by AVID), and Mimeo.com.
About Draper Fisher Jurvetson Gotham Ventures
Draper Fisher Jurvetson Gotham Ventures (DFJ Gotham) is a venture capital firm focused on early-stage technology companies in the Greater New York Region. Since its first investment in 2000, DFJ Gotham has backed over 20 ventures spanning a wide array of technology related sectors. DFJ Gotham partners with extraordinary teams of entrepreneurs to build strong and successful businesses that make a huge impact in their industries. DFJ Gotham takes pride in being an active partner, leveraging its experience, knowledge and relationships to provide substantial value to its portfolio companies.
Monitor110 Suzanne Starnes (212) 475-2913
Middleberg Communications David Bray (212) 812-5665