Industry Ventures joins Norwest Venture Partners, Trident Capital and Focus Ventures in backing travel data and media leader
SAN FRANCISCO, March 27, 2012 /PRNewswire/ — Sojern, the travel data and media company, today announced $7.5 million in additional funding from its growing list of venture backers. Industry Ventures joins Sojern’s existing investors –Norwest Venture Partners, Trident Capital and Focus Ventures – to support the company’s continued growth and expansion.
“We’ve watched what Sojern has been doing to improve advertiser performance using its unique travel intent data,” said Hans Swildens, founder and managing partner at Industry Ventures, “and have been really impressed. Their technology and overall approach – to provide very focused consumer advertising based on unique travel intent data and advanced media buying practices – has proven extremely effective. We are extremely confident in Sojern’s leadership team as they address this huge market opportunity.”
Sojern has two discreet product offerings: the Airline Boarding Pass and the Sojern Media Platform (SMP). The Boarding Pass application enhances the overall air travel experience by providing relevant, targeted offers and content through many of the leading air carriers including American Airlines, Alaska Airlines, Delta Air Lines, US Airways and United Airlines. The SMP, Sojern’s newest offering, is an audience targeting product that combines Sojern’s proprietary data, targeting algorithms, advanced media buying and optimization technology for exceptional campaign performance.
“We’ve seen really compelling growth of late and that’s a direct result of our unique position in the marketplace,” said Mark Rabe, Sojern’s chief executive officer. “We’re fortunate to add Industry Ventures to our existing roster of investors and look forward to working together to accelerate the business.”
To support Sojern’s continued growth and expansion into audience targeting and data management, the company has embarked on a comprehensive rebranding campaign. This effort reinforces Sojern’s mission to “reach travelers” through data-driven audience targeting and premium placements and illustrates the company’s benefits to its advertising clients and travel partners alike.
Sojern, Inc. is the premier travel data and media company. It has strategic partnerships with the world’s leading airlines, hotels, car rental companies and other travel industry organizations including Alaska Airlines, American Airlines, Carlson Wagonlit, Delta Air Lines, Hawaiian Airlines, Kayak, Travelport, United Airlines and US Airways. Sojern combines the most advanced travel advertising platform with a proprietary data set from the company’s network of strategic partners to offer advertisers the ability to target high-value consumers. Sojern is a privately held company with offices throughout the US. For more information, please visit www.sojern.com.
About Industry Ventures LLC
Industry Ventures is a leading investment firm that focuses on venture capital and technology growth equity. The firm invests in secondary and primary opportunities, including purchasing direct portfolios, founders’ interests, tail-end funds, limited partnership interests and other special situations. Founded in 2000, the firm manages over $1 billion of institutional capital and is headquartered inSan Francisco with an office in Washington, D.C. For more information, please visit www.industryventures.com/