| With Investment from Advertising and Marketing Services Firm WPP's Kantar Group, the Advertising Industry Puts Its Hat into the Mobile Forum |
“Prior to M:Metrics, mobile content industry trends were based on speculation, rather than data”
M:Metrics, the authority on the consumption of mobile content and applications, today announced that it has raised a $7 million Series B financing round led by Prism Venture Partners. The Kantar Group, a division of advertising and marketing services group WPP and one of the world's largest market research organizations, joined Prism in the new round alongside additional funding provided by founding investor i-Hatch Ventures. The financing proceeds will be directed toward international expansion and new service offerings.
"Prior to M:Metrics, mobile content industry trends were based on speculation, rather than data," observed Woody Benson, General Partner, Prism Venture Partners and a member of M:Metrics' board of directors. "M:Metrics has quickly established itself as the authority on mobile media measurement, and it's understandable, given the pedigree of the company's executives, who have built long, successful careers defining new media measurement and the usage of mobile content and applications."
M:Metrics was founded in September 2004 by Will Hodgman, president and CEO and Seamus McAteer, chief product architect and senior analyst. Hodgman's first venture, AdRelevance, was the first firm to measure the audience for Internet advertising, the industry standard for such metrics, now part of Nielsen//NetRatings. McAteer is one of the foremost experts on mobile technology and applications and has been analyzing the market since its inception. Barbara Jarzab, chief of measurement sciences, directed methodology and product standards for all global Nielsen//NetRatings products before joining M:Metrics.
"The mobile phone is fast becoming a channel for mass media," said Jeff Krentz, executive vice president, corporate development and strategy for Kantar Group, a division of WPP. "M:Metrics is the standard content providers use to measure the attitudes and behavior of mobile phone users. This data provides the measures that are critical for the mobile medium to be fully embraced by advertisers, by employing transparent and accepted methodologies to accurately quantify the audience for mobile content."
Chip Austin, general partner, i-Hatch Ventures, agrees.
"Over a year ago, we recognized that M:Metrics had identified a sizable market need and had the right team to seize the opportunity," said Austin. "We'd been actively investing in mobile data service companies for years, but even as the sector emerged, there remained fundamental challenges in accurately quantifying even the most basic market dynamics that are readily available in other media. The founding team has not only defined the mobile measurement industry but also built an amazing business in the process. M:Metrics' impressive progress speaks volumes to the demand for reliable content consumption metrics and the credibility the company has earned. The addition of world class investors such as Prism and Kantar is a testament to the vision and flawless execution of the M:Metrics team."
M:Metrics is the only mobile media measurement firm. The company's multi-dimensional methodology delivers the most accurate, detailed information about the mobile content market. All M:Metrics data is available to clients via the interactive MobiLens(TM) online interface which provides access to a range of competitive intelligence and allows for flexible custom queries of subscriber consumption and device-level data through M:Metrics' Market Viewer. The company's new Channel Viewer product allows clients to assess the performance of partners, competitors and categories of content across the entire market for mobile content and applications. Furthermore, the company releases the findings of its Benchmark Survey monthly as a service to the mobile media industry.
Since its launch in March, M:Metrics has signed 38 clients to its roster, including the top carriers, mobile content publishers, media companies, mobile technology providers and handset manufacturers. Verizon Wireless, AMP'd Mobile, Zingy, InfoSpace Mobile, Real Networks, MForma, Warner Music Group, MTV, Yahoo!, Glu Mobile and Openwave are among the companies in M:Metrics' enviable portfolio.
"We have made many significant achievements over the past year, the largest of which was to accomplish an ambitious goal: to set the standard for mobile media measurement," said Hodgman. "As we embark to take M:Metrics global and further enhance our product portfolio, I am looking forward to working with this talented group of prestigious investors, which collectively offer the optimal combination of domain expertise in mobile content, advertising and in operating and growing mobile technology companies."
About M:Metrics
M:Metrics is the mobile industry authority on the measurement of the consumption, availability and feasibility of mobile content and applications. M:Metrics' monthly syndicated data services benchmark the performance of carriers, handset OEMs, platform vendors and content providers, empowering decision makers with highly granular, verifiable measures of subscriber consumption, content availability and pricing and handset capabilities. M:Metrics, Inc. is a private, venture-funded corporation headquartered in Seattle, Washington with offices in San Francisco, California.
About i-Hatch Ventures
Formed in early 1999, i-Hatch Ventures is one of the premier early-stage venture funds in the Northeast. i-Hatch provides capital and hands-on support for early stage technology ventures located primarily in the northeast corridor. Raised from professional angel investors across several industries, i-Hatch's initial fund supported the startup activities of more than 20 new technology ventures. Building on those prior investments, i-Hatch's follow on $100+ million fund -- i-Hatch II -- continues to provide breakout funding and support for new ventures in promising technology sectors with an emphasis on the mobile and broadband sectors. Fund investments include Equator Technologies (Nasdaq:PXLW), Limelife, M:Metrics, Reaxion, ThumbPlay, Vindigo (JASDAQ:For-Side), and WiderThan/Ztango. More information about i-Hatch Ventures can be found at http://www.i-Hatch.com.
About Prism Venture Partners
Founded in 1996, Prism Venture Partners (Westwood, MA) is a venture capital firm built by experienced entrepreneurs in technology and life sciences. With approximately $1.25 billion in capital under management across five funds, Prism's primary goal is to deliver superior value to its investors. Its partners have served as the founders, CEOs and senior executives of numerous venture-backed companies. By leveraging its network of seasoned entrepreneurs, skilled executives and long-time industry contacts, Prism identifies and works closely with companies with the potential to be market leaders. For more information, please visit http://www.prismventure.com.
About Kantar Group
Kantar is one of the world's largest research, insight and consultancy networks. It helps clients make better business decisions through a deeper understanding of their markets, their brands and their customers. Part of WPP, Kantar brings together a diverse group of outstanding marketing insight and consulting companies -- each an expert in their field who can work together seamlessly to help clients address business issues in a holistic and strategic way.
Companies include: Added Value Group, BMRB, BPRI, Cannondale Associates, Center Partners, Fusion 5, Glendinning Management Consultants, Henley Centre Headlight Vision, IMRB, KMR Group, Lightspeed Research, Management Ventures, Mattson Jack Group, Millward Brown, pFour, Research International and Ziment Group. The group operates in 160 offices across 60 markets worldwide.
For further information please visit us at: www.kantargroup.com
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