Perfect Market Inc. on Tuesday said that Comcast Interactive Capital led a $9 million financing round, which the Pasadena startup will use to improve products that help news organizations get more revenue from their content.
Perfect Market said Pasadena incubator Idealab, Los Angeles Times’ parent Tribune Co., and venture firms Rustic Canyon Partners and Trinity Ventures also participated in the round; those were previous investors. It’s the fourth financing since the company launched from Idealab in 2007.
Perfect Market’s products helps publishers, such as the San Francisco Chronicle and Orlando Sentinel, provide readers with technology and improved packaging tools to display and distribute content on web sites, social media and other channels.
“The substantial support we’ve received from investors to date affirms Perfect Market’s mission as we satisfy a gap in finding new monetization opportunities for leading web properties in the ever-expanding online advertising marketplace,” Chief Executive Julie Schoenfeld said in a statement.
As part of the funding, David Horowitz of Comcast Interactive Capital, Philadelphia cable TV giant’s investment arm, joins the company’s board.
For reprint and licensing requests for this article, CLICK HERE.