MarketShare Raises $32m from Bono's Investment Firm

In the US, cross-media analytics firm MarketShare has closed a $32m 'follow-on' investment from Elevation Partners, whose MD and co-founder is U2 front man Bono.

Founded in 2005, MarketShare has developed a suite of software solutions which combine advanced analytics and statistical modeling, to help companies improve the effectiveness of their sales and marketing strategies.

The firm says its purchases of data analytics and business intelligence firm JovianDATA last August, and more recently of benchmarking specialist MarketingNPV, have helped it to 'significantly' expand its modeling capabilities and its ability to help companies improve their marketing ROI via objective measurement solutions.

Elevation Partners first invested an undisclosed amount in the firm in 2009. The latest funding will be used to support MarketShare's organic growth, acquisitions, additional Asia-Pacific and EMEA expansion, and to fuel the company's investments in analytics, predictive models and cloud-based analytic products.

As a result of the deal, Elevation Partners Principal Adam Hopkins has joined the investment firm's Senior Advisor Ted Meisel on MarketShare's Board of Directors.

Jon Vein (pictured), co-CEO of MarketShare, comments: 'Elevation has been a very strategic and supportive partner, and we are pleased with their vote of confidence and increased value we'll be seeing from this partnership.'

Separately, according to an SEC filing posted at the end of March, MarketShare has also raised $10m through an equity offer.

Web site: www.marketshare.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

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