Impact Radius raises $30 million in funding round
Impact Radius, a Santa Barbara-based digital marketing firm, finished a $30 million funding round June 8 by Boston-based Silversmith Capital Partners.
Founded in 2008 by veterans from the early days of Commission Junction, now CJ Affiliate by Conversant, Impact Radius is a pioneer of so-called performance marketing space, where advertisers only pay out a commission when sales are made. Silversmith is a $460 million fund formed last year that invests in high growth, young, successful companies that are beyond their startup phase.
Impact Radius announced the funding round in a news release and said the funds will be used to help it develop new products. The company currently has international offices in London and Cape Town, South Africa. Impact Radius said the funds will also help it expand globally.
“Over the past 30 months, Impact Radius has experienced phenomenal growth through market adoption of its innovative marketing platform,” said Impact Radius CEO Per Pettersen in a news release. “Silversmith’s investment will fuel our global growth.”
In the news release, Silversmith expressed faith in Impact Radius.
“Our team was impressed by the strong customer partnerships with the world’s most successful brands, who have chosen Impact Radius as a key partner for their marketing strategy,” said Jim Quagliaroli, managing partner of Silversmith.
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