Financial Milestones and Record Contract for comScore

Internet measurement specialist comScore Networks has announced the signing of a record-breaking contract valued at more than $18 million over five years, at the same time reporting its first quarter of corporate profitability, and the closing of $12 million in a Series E round of funding.

comScore's reporting covers both online and offline buying activity and is based on proprietary and patent-pending technology that continuously measures a Global Network of more than 1.5 million representative Internet users. ComScore services are used by global corporations such as Microsoft, Kraft, The New York Times Company, Nestlé, Wells Fargo & Company, and GlaxoSmithKline.

The company believes the $18m contract to be the largest to date in the online behavioural measurement business but as yet has released no further details.

Participating investors in the Series E Funding round include Accel Partners, Adams Street Partners, JP Morgan Partners, Flatiron Partners, Institutional Venture Partners, Topspin Partners and vSpring Capital. The round brings comScore's total capitalization to date to approximately $88 million.

'Attaining profitability in less than four years since the founding of the company reflects the success of both our Media Metrix and Marketing Solutions groups', according to President and CEO Magid Abraham, Ph.D. 'We are grateful to the clients, employees, investors and industry supporters who have helped us achieve this major milestone.

'With a strong financial position, rapid growth and a proven business model, we are poised to aggressively pursue global expansion opportunities, to further strengthen our industry leadership'.

More information is available at www.comscore.com

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

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