Comcast Ventures, Tribeca Venture Partners, Genacast Ventures Lead Cash Infusion
PHILADELPHIA, PA--(Marketwired - Apr 30, 2014) - LeadiD, the first neutral, privacy-friendly, trusted arbiter of lead transactions, announced today that it has raised $7M in Series A funding from Comcast Ventures and Tribeca Venture Partners. Genacast Ventures, an early-stage technology fund affiliated with Comcast, which had led LeadiD's seed funding, also participated in this round. This brings the total of funds raised since the company's inception to $9.7M. Today's announcement was initially mentioned on re/code.
LeadiD is growing dramatically. The raising of this Series A round of funding comes just a few months after the company's announcement that it had tripled both platform usage and revenue over the course of 2013. Located in Ambler, PA, just west of Philadelphia, the start-up will use new funding to grow its team and further strengthen its lead authentication technology for both buyers and sellers. LeadiD has already generated more than one billion unique LeadiDs for its 350 clients -- a list that includes major brands throughout the education, mortgage, insurance and automotive verticals.
"Online Lead Generation is a multi-billion dollar industry," said Ross Shanken, Founder and CEO of LeadiD. "But the practice of buying and selling of leads traditionally has been highly inefficient. We developed and scaled a system that allows sellers and buyers to determine the value of a lead and make purchase and resourcing decisions accordingly. This investment is the latest indication that we're moving the marketplace in the right direction." "LeadiD provides a technology that improves marketer outcomes, seller margins, and consumer experience," said Sam Landman, Principal at Comcast Ventures. "No other neutral solution like this exists at any scale, and we're excited to be backing the one with the first-mover advantage."
"Genacast Ventures looks to invest in technology companies with the potential to disrupt large, established markets," added Gil Beyda, Founder and Managing Partner at Genacast Ventures. "Lead generation is one such market that is an essential customer acquisition vehicle for thousands of businesses, large and small, around the world. LeadiD helps insure there is a growing supply of quality, performing leads and has demonstrated their ability to bring new levels of trust and transparency into the lead selling and buying process. We believe LeadiD is now an indispensible component to a healthy, thriving lead generation ecosystem."
LeadiD clients include Urban Science, eFinancial, Consumer United, and dozens of other brand advertisers. Whether on the buyer or seller side, the LeadiD technology authenticates the origin and history of every lead, providing real-time analytics that predict each individual lead's worth and efficacy. Registration for the technology is free for marketers on both sides of the transaction.