Specific Media plans for growth with IBM tech and $100 million in funding
Online advertising network Specific Media is getting a boost from increased consumer targeting capabilities with the addition of analytics from IBM, as well as a $100 million venture capital infusion and the appointment of Microsoft Corp.’s former top search strategist as senior vice president.
Specific Media has selected the IBM Balanced Warehouse solution, which includes advanced analytics and predictive modeling techniques, to analyze large volumes of advertising data. The addition of IBM technology enhances Specific Media’s existing ad-targeting abilities, which combine demographic, behavioral, contextual and geographic methods to reach specific online audiences.
“We selected IBM’s Balanced Warehouse Solution based on its ability to easily manage complex data in real time,” says Daryl McNutt, vice president of client services at Specific Media. “We expect to leverage this data to continually optimize our clients’ campaigns, delivering highly targeted results and unparalleled ROI.”
Specific Media late last year closed a $100 million round of financing with venture capital firm Francisco Partners, with the agreement including access to further capital as necessary to support growth. Specific Media has said it will use the funding for acquisitions that built on its current platform. Neil Garfinkel, a co-founder of Francisco Partners, will join Specific Media’s board of directors.
“The online advertising space continues to be one of the most attractive segments of the technology market. Specific Media’s combination of experienced management, strong technology, marquis customers and broad reach makes it well-positioned to continue to solidify a leadership position in the industry,” Garfinkel says. The company’s online ad platform now reached more than 130 million unique users.
Specific Media also has named as senior vice president Microsoft’s former general manager of search strategy and its pay-per-click advertising program Microsoft adCenter. David Jakubowski helped bring adCenter to market, and was responsible its marketing strategy, product management, and product positioning in the advertising community.
Previously, he was senior vice president of performance based online marketing firm Quigo Technologies , where he was responsible for building its business units, expanding the client base, increasing revenue growth and overseeing marketing and customer acquisition. In his new role at Specific Media, Jakubowski will be responsible for expanding the company’s growing Fortune 500 company client roster, streamlining the media buying process, shaping future products and helping to evaluate potential acquisition targets.
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