Performance Horizon Group Inks 2nd VC Round
NEWCASTLE, UK, Leading provider of performance marketing technology, announced today that it has received a second round of venture capital funding led by Greycroft Partners and existing investor DN Capital.
Performance Horizon Group (PHG), a leading provider of performance marketing technology, announced today that it has received a second round of venture capital funding led by Greycroft Partners and existing investor DN Capital. PHG also welcomes John Taysom and Tom Buehlmann to its Board.
Established in May 2010, PHG is the latest venture of Malcolm Cowley and Paul Fellows, founders of buy.at which was sold to AOL in 2008 for $125m. The Company's ExactView technology is a global platform for tracking, reporting, managing and optimising performance and partner relationships in affiliate and lead generation campaigns, regardless of channel or device.
DN Capital, a global early stage and growth capital investor, seed funded PHG in late 2010 with the innovative ExactView product still in development. One year on, the company already has over 25 clients tracking partners across 11 countries. PHG has proven product market fit and is ready for the next phase of growth.
Alongside this funding, PHG also welcomes two experienced executives to its Board of Directors. John Taysom was the founder of Reuters Group Plc's venture fund and involved in global successes such as Tibco and Yahoo. He joins as Chairman. Tom Buehlmann is an experienced sales and marketing executive who ran the International division of Catalina Marketing up until its $1.7bn sale to Hellman & Friedman. He joins the Board as an independent non-executive director.
PHG has experienced great traction in the US including a major win with Nextag. The Company opened an office in New York in October 2011. The funding from Greycroft Partners, which is co-founded by legendary venture capitalist Alan Patricof, will be used to capitalise on the high demand for PHG's flagship product ExactView.
Malcolm Cowley, CEO of PHG, said: "In the past twelve months we have built a great product and an excellent team so I couldn't be happier. We have gained strong momentum with our customers and high demand for our product. This has enabled us to open offices in London and New York ahead of schedule. These locations will be key to support and grow our client base in 2012 and beyond.
"The further investment from DN Capital and Greycroft will enable us to meet this demand and the appointment of experienced leaders in John and Tom to our board, will help us to scale the business in the right way to capitalise on our potential."
Tom Bradley, Partner at DN Capital, comments: "We have been impressed with the team, the customer traction and the growth of PHG since the very beginning. We are delighted to be working with them."
Co-founder Ian Sigalow from Greycroft, adds: "After only a few short months, PHG is already making waves in the US with major brand wins and an impressive pipeline of prospects. We are committed to helping PHG achieve its vision."
About Performance Horizon Group
PHG is disrupting the multi-billion dollar performance marketing space with its patent pending technology ExactView, the leading choice for brands to manage their key revenue driving relationships in-house across web, social and mobile. With offices in the UK and US, PHG is currently monitoring sales for brands in 11 countries. ExactView's tracking, analytics and management tools give brands and their agencies the platform needed to drive up sales and reduce costs across multiple digital media channels, such as affiliate marketing and lead generation.
About DN Capital
DN Capital is a global early stage and growth capital investor in digital media, ecommerce and software companies with offices in London and Palo Alto. DN Capital's objective is to identify, invest in and actively support its portfolio companies to become global leaders. Portfolio companies include Shazam Entertainment, Endeca Technologies (sold to Oracle), Datanomic (sold to Oracle), Eyeka, JacobsRimell (sold to Amdocs), Mister Spex, OLX (sold to Naspers), Digital Chocolate, Tbricks and Windeln.de. The professionals at DN Capital bring over 50 years of private equity experience to their investments, and actively work with portfolio companies to steward their growth through the various staes of development.
Greycroft Partners is a venture capital partnership, formed to invest in promising digital media companies. Greycroft's portfolio companies benefit from active, hands-on assistance in all phases of expansion, including marketing, finance, and management development. With offices in New York and Los Angeles, Greycroft leverages an extensive network of media and technology industry connections to help its investees gain visibility, build strategic relationships, and successfully bring their products to market.
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