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Sparkroom Raises $4 Million from Matrix Partners; Announces Founding Team
Seasoned Team of Internet Veterans Building New Solution to Optimize Lead Performance
Toronto/Charlotte - March 17, 2008 – Sparkroom, Inc. (www.sparkroom.com), a leading provider of Lead Performance Optimization solutions for the online lead generation industry, today announced a $4 million round of Series A financing from Matrix Partners. The proceeds from the financing will be used to fund product development, build a world-class team and to expand operations.
Sparkroom’s Lead Performance Optimization solution, initially focused on the mortgage industry, uniquely combines online direct marketing expertise and proprietary technology to help lenders dramatically improve the performance of their online leads, by lowering customer acquisition costs, significantly improving marketing efficiency and measurably increasing profitability.
“Online lead generation spending is rapidly growing and marketers are frustrated that they lack the tools and skills needed to optimize their marketing investment in this increasingly important channel,” said chief executive officer, Jamie McDonald. “We are bringing together the industry’s leading direct marketers with a world-class technology platform to solve this problem. We are thrilled to have Matrix Partners as an investor and partner in our business.”
In May of 2007, Sparkroom received $4 million in Series A financing from Matrix Partners, one of the top-performing venture capital firms over the past three decades. “We believe in the Sparkroom solution, market opportunity and the team. We are excited to have the opportunity to work with Sparkroom to build a truly great company in the rapidly growing online lead generation space,” said Nick Beim, general partner at Matrix Partners. Nick Beim has joined Sparkroom’s board of directors.
Your Sparkroom account team is supported by online direct marketing experts from the mortgage industry who understand how to maximize the ROI of your lead spend.
About Sparkroom
Sparkroom is a leading provider of Lead Performance Optimization software and services, a solution that uniquely combines Sparkroom Lead IQ, a hosted business intelligence platform with expert account management services to give online lead buyers the tools and expertise needed to measure, manage and optimize their lead acquisition spending. Sparkroom’s software, which it hosts and delivers to its customers on-demand, enables customers to capture, store and analyze information generated by their online lead buying activities and to gain critical business insights into the performance and efficiency of marketing and sales initiatives and other business processes. Founded in early 2007, Sparkroom is privately-held, with funding from private investors and Matrix Partners. For more information, visit www.sparkroom.com.