STREETMAIL RAISES $8.5 MILLION FROM INVESTORS INCLUDING AOL TIME WARNER VENTURES and VILLAGE VENTURES
NORTH ADAMS, MA, April 11 - Streetmail, the e-mail media and direct marketing company, today announced that it has raised $8.5 million in capital from a group of investors, reaffirming the company`s commitment to serving local communities and local advertisers online.
Today`s announcement marks the completion of Streetmail`s third round of financing, bringing the total raised to $16 million. New investors in this round include AOL Time Warner Ventures and Village Ventures. First and second round investors, including Rho Management Company, STAR Ventures and The Berkshires Capital Investors, also participated.
"Bringing together local advertisers and local online community is an opportunity that Streetmail is uniquely qualified to take advantage of," said Bo Peabody, co-founder and chairman of Village Ventures and the Village Ventures` representative on the Streetmail board of directors. "We`re especially pleased to be working with AOL Time Warner and our other partners on local interactive media and advertising, a space we consider to be the last frontier of the domestic Internet."
"Streetmail`s distribution model through local, regional and national ISP`s, and its creative product, result in low subscriber acquisition and content production costs and make Streetmail a candidate for success," said Len Leader, President of AOL Time Warner Ventures.
About Streetmail
Streetmail`s e-mail newsletters offer nearly one million subscribers the inside scoop on hot issues, cool events and all things local in markets across the U.S. From San Francisco to Boston, the weekly e-newsletters conveniently deliver local conversation, the low-down on what`s happening around town, and deals from local businesses directly to subscribers` e-mail boxes. Streetmail is distributed through partnerships with local, regional and national ISPs.
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