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News and Information Article
Oak Investment Partners Makes Strategic Investment in iCrossing
SCOTTSDALE, Ariz., June 21 // -- iCrossing
(http://www.iCrossing.com), a leading interactive marketing agency, today
announced that it has closed on a $15 million Series D round. With the
completion of the Oak deal, iCrossing has secured over $28 million in the
last year as part of its emerging growth strategy.
(Logo: http://www.newscom.com/cgi-bin/prnh/20051130/NYW105LOGO )
Oak is considered one of the premier venture capital funds and recently
announced the formation of Oak XII, capitalized at $2.5 billion. Oak
focuses on providing growth equity to operating-stage businesses and is a
particularly active investor in internet-related companies.
"iCrossing is a top innovator in the fragmented search marketing and
optimization category with a proven, proprietary technology that is
changing the way companies look at advertising," stated Fred Harman,
Managing Partner, Oak Investment Partners. "The company continues to gain
market share by helping its roster of world-class clients build the
lifetime value of their brands and effectively quantify the metrics from
offline to online campaigns."
"Our integrated natural and paid search offering provides an ideal
platform from which to expand our business," said Jeffrey Herzog, CEO,
iCrossing. "Oaks investment further reinforces and validates our
commitment to become the premier full service interactive marketing agency
with search as our core DNA, helping our clients reach the right audience,
with the right message, at the right time, using the right metrics."
This news follows a number of moves by iCrossing to fortify its future
growth and leadership position in the interactive industry. In March, the
company bolstered its executive team with the addition of two interactive
industry authorities, including former Agency.com CEO, Don Scales, as
President and COO, and former Myspace.com Chairman and Intermix Media CEO,
Richard Rosenblatt, as Chairman. Most recently, iCrossing opened its fifth
office, in Dallas, further expanding its national presence.
In addition, iCrossing has received several industry accolades this
year, including being named "2005 Agency of the Year: Best Search," and one
of the "Top 25 Interactive Agencies," by OMMA: The Magazine of Online
Media, Marketing & Advertising (OMMA).
About Oak Investment Partners
Oak Investment Partners is a multi-stage venture capital firm with a
total of $8.4 billion in committed capital. The primary investment focus is
on high- growth opportunities in communications, information technology,
internet new media, financial services information technology, healthcare
services and consumer retail. During its 28-year history, Oak has achieved
a strong track record as a stage-independent investor funding more than 435
companies at key points in their lifecycle. Oak has been involved in the
formation of companies, funded spinouts of operating divisions and
technology assets and provided growth equity to mid- and late-stage private
businesses and to public companies through PIPE investments. For more
information on Oak Investment Partners visit http://www.oakvc.com.
About iCrossing
iCrossing is the interactive marketing agency that uses search-derived
insights to deliver the right message to the right people at the right time
with the right metrics. Headquartered in Scottsdale, Arizona, with offices
located in Chicago, Dallas, New York and San Francisco, iCrossing was named
the 2005 Agency of the Year: Best Search and one of the Top 25 Interactive
Agencies by OMMA: The Magazine of Online Media, Marketing & Advertising
(OMMA). It also ranks as a "Top 50" interactive advertising agency
according to Adweek, Media Magazine and Advertising Age. For more
information, please visit http://www.iCrossing.com.
For all press inquiries, please contact Jennifer Pelczarski at
1-480-282-6036 or jennifer.pelczarski@icrossing.com.
Certain statements contained in this document may be deemed to be
forward- looking statements. iCrossing intends that such forward-looking
statements be subject to the safe-harbor created thereby. Such
forward-looking statements include, but are not limited to: (i)
expectations of increased sales coverage, company growth, and further
market penetration as a result of the new funding, and (ii) iCrossings
ability to complete its strategic initiatives. iCrossing cautions that
these statements are qualified by important factors that could cause actual
results to differ materially from those reflected by the forward-looking
statements contained herein. Such factors include, but are not limited to:
(a) changes in the market for iCrossing services; and (b) the failure of
iCrossings services to deliver commercially acceptable performance
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