Byrne returns to his CEO post after his three-month medical leave of absence.
comScore says it will use funding for additional sales and marketing efforts.
Reston, VA-based comScore Networks Inc., provider of data regarding traffic and use of the Internet, has closed a $15 million Series C round of financing, the company announced. The company says it will use the funding for additional sales and marketing efforts. The new funding is expected to be sufficient for the company to achieve profitability, the company said. The total capital raised to date by comScore in three rounds of financing is $57 million.
The round was led by Adams Street Partners, a recently formed private equity firm in Chicago that was formerly Brinson Partners’ Private Equity Group and which invested in comScore’s previous Series B round. Also participating in the current round were other existing comScore investors: Accel Partners of Palo Alto, CA, JP Morgan Partners/ Flatiron Partners of New York, Institutional Venture Partners of Palo Alto, CA, and Lehman Brothers Venture Fund.
comScore provides information on the Internet behavior of more than 1.5 million opt-in Internet users, while capturing detailed and continuous information about their online and offline purchases.
Tom Berman of Adams Street Partners, who will be joining the comScore Board of Directors, said, “We’re delighted to lead this round of financing. We’ve been extremely impressed by the unique portfolio of services that comScore has built, but even more impressed by the revenue traction that the company has achieved in such a short period of time.”
Since its commercial introduction in September of 2000, comScore has built a client base within Global 2000 companies.