Online Ad Tracking Company Grabs $11 Million
Orb Communications and Marketing is set to add wireless capabilitiesto its arsenal, with the help of a cash infusion.
Silicon Alley direct marketing and advertising firm Orb Communications and Marketing received its first outside investment this week as eVentures took a 25 percent stake worth $11.3 million.
The company’s Orbit software is used by clients to track the effectiveness of online campaigns and retail operations in real-time, and has recently expanded that tracking capability to add wireless features, appealing to media buyers and e-commerce execs on the go. Clients include Clinique, COTY, Bigstar, TIME Inc., Blue Dingo and Citibank.
ORB will use the proceeds from the investment to expand marketing and sales efforts, increase service support and expand technology development, said a spokesperson.
“ORB’s interactive marketing solutions and technology are helping fulfill the promise of e-commerce by providing the tools to track impressions through transactions and optimize results that drive retail traffic, online sales or customer acquisition objectives in real-time,” said Jeffrey Marcus, chief executive officer of Dallas-based eVentures. “Its proprietary software, now being licensed to customers, and its cutting edge wireless technology, now being developed for a wide range of wireless devices, position the company as a leader in its field.”
As part of the deal, Olaf Guerrand-Hermes, a senior vice president of corporate development at eVentures, will become interim chairman of ORB, effective immediately. Additionally, Barrett Wissman, president of eVentures, was named to ORB’s board of directors. eVentures has committed to increase its stake in the company to 29 percent if certain performance targets are achieved.
“We look forward to the benefit of their guidance and the opportunity to integrate groundbreaking wireless and broadband marketing applications with their next-generation communications infrastructure,” said founder and chief executive officer Andrew Pakula. “Their investment is a great endorsement of our business strategy and technology, and will help us build on our strong leadership position in the Internet marketing services arena.”
