Lijit Networks Closes $6M in New Financing

Funding will Help Lijit Grow its Publisher Network and Advertising Services

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Jun 22, 2010, 03:00 ET

BOULDER, Colo., June 22 /PRNewswire/ -- Lijit Networks, Inc., the leading provider of search and discovery tools for online publishers, today announced it has closed $6m in financing led by existing investor, Foundry Group. Other existing investors, Boulder Ventures and Colorado Fund I, managed by High Country Venture, also participated in the round. Total venture capital investment in Lijit since the company's inception in 2006 is $17m.

Lijit has grown its publisher network to include 12,000 publishers, 700 million page views per month, and 53 million unique visitors per month. The latest round of financing will be used to support the growth of the Lijit publisher network and accelerate the company's Advertising Services platform that was launched in Q1 2010.

"Lijit has been able to build a self-sustaining and consistently growing audience network because of the truly valuable information we provide our publisher base," said Todd Vernon, CEO and founder of Lijit Networks. "This latest round of financing validates the incredible publisher asset we have developed over the last four years and recognizes our ability to leverage that asset to build compelling revenue opportunities for Lijit and its publisher base."

Publishers who are interested in partnering with Lijit to obtain deep insight into reader intent, behavior, content, and demographics can join the Lijit network for free at http://www.lijit.com/signup/start. With an average of 50-100 new publishers signing up each day, advertisers and brands leverage Lijit's robust network and comprehensive data to build campaigns that increase brand awareness, drive better brand recall, deliver more intent to purchase, and provide better ad performance.

About Lijit Networks, Inc.

Lijit Networks, Inc. was incorporated in June 2006 and is headquartered in Boulder, Colorado. By providing innovative content discovery and search tools to over 12,000 individual publishers, commercial web sites and content networks, Lijit enhances reader engagement, lengthens time on site and increases page views. Lijit offers revenue generation programs that feature premium online advertising campaigns, which are highly targeted and contextually relevant to the publisher's audience and readership. Learn more at www.lijit.com.