This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

DataSphere Raises $10 Million To Extend Leadership In Hyperlocal News And Advertising

BELLEVUE, Wash., Sept. 9 /PRNewswire/ -- DataSphere Technologies, the leading provider of hyperlocal web technology and sales solutions for media companies, has raised a $10 million series C round of funding led by OVP Venture Partners to expand further into the $100 billion US local advertising market. OVP joins existing investors Ignition Partners and Fisher Communications, Inc. (Nasdaq: FSCI). The additional funds will be used to scale DataSphere's business across all functions, accelerate the build-out of community websites and further enhance product offerings, providing additional value to advertisers, consumers and media partners.

DataSphere's network of over 750 neighborhood websites feature information about local news and events drawn both from community residents and the collective talents of hundreds of top tier professional reporters at its media partners, which include Gannett, Raycom Media, LocalTV LLC, Fisher Communications, Inc. (NASDAQ: FSCI) and Hubbard Broadcasting.

"DataSphere has established itself as the clear leader in providing solutions for media companies looking to become more relevant to their communities and tap into the hyperlocal advertising needs of neighborhood businesses," said Lucinda Stewart, Managing Director of OVP Venture Partners. "Their unique combination of both a technology platform and specialized small business sales team delivers a compelling turnkey solution for media companies looking to generate additional profits from their existing content assets."

"We've been very pleased with the progress DataSphere has made in executing against this tremendous market opportunity," said John Connors, Partner at Ignition Partners. "The team has an excellent plan for the future that will make them a major player in the local advertising space."

Over the last 12 months, DataSphere has experienced dramatic growth, striking agreements with media companies to provide neighborhood level news to 40% of the US population, reaching over 12 million unique visitors across its advertising network in August, and adding over 150 new employees. A further 150 new hires are expected by the end of the year.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,399.67 +19.26 0.12%
S&P 500 1,904.01 +17.25 0.91%
NASDAQ 4,316.0740 +57.6360 1.35%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs