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Venture Capital Related:
Delivery Agent Secures $5.5 Million in Series a Funding
to Meet Expolsive Demand of Fasr-Evolving Entertainment
Revenue Model
San Francisco, CA (PRWEB) March 25, 2005 -- Delivery Agent,
Inc., the leading interactive commerce provider for the
entertainment industry, today announced that it has closed
on $5.5 million in Series A funding through Worldview
Technology Partners and Cardinal Venture Capital. Proceeds
from the financing will be used to expand Delivery Agent’s
market leadership position as the only company with a
targeted solution that enables viewers to connect with,
and immediately purchase, products seen in entertainment
content. The company’s patent pending platform has
become the industry standard, currently adopted by major
entertainment companies and consumer brands seeking to
enter this new revenue stream.
A recent Forbes Magazine article on Delivery Agent’s
business referred to Delivery Agent as enabling; “The
Ultimate Product Placement: getting it into the hands
of an impulsive television viewer.” Positioned and
promoted properly, the new revenue streams that Delivery
Agent is opening up for content-owners, content distributors
and marketers can result in astounding success.
To date, Delivery Agent has proven the capabilities of
its solution by launching programs for many brands and
leading motion picture studios including Miramax Films,
Sony Pictures Home Entertainment, Dimension Films and
Lions Gate Entertainment. Additionally, the company has
commerce agreements with top TV and Cable networks including
NBC, ABC, Bravo, SOAPNet and GSN, representing over 45
properties including such highly rated shows as “Will
& Grace,” “Queer Eye for the Straight Guy,”
“Project Runway,” “Passions” and “Las
Vegas” among many others.
Founded three years ago, Delivery Agent has become indispensable
to content owners and consumer brands since a key aspect
of its patent-pending Just Seen On ™ technology allows
production companies to digitally catalog product information
at the production level, saving vast amounts of time and
energy. Through Delivery Agent’s proprietary video
indexing process, any product can be located at any time
in any scene. At the consumer level, the Just Seen On
platform enables viewers to search for and purchase products
that they see on screen via virtually any interactive
and/or digital platform, including their pc, wireless
handheld device, interactive TV remote or telephone.
“Delivery Agent has risen to the top of this nascent
industry by making intelligent deals with top content
owners. They continue to gain momentum by providing the
software and services that enable brands and entertainment
companies to fully leverage the demand created when a
product appears in an entertainment property.” said
Pete Goettner, at Worldview Technology Partners. “This
is the only solution we saw that adequately addresses
the major shifts in television advertising created by
PVRs and ad skipping – these guys TiVo-proof content”,
he said.
Chris Hadsell, of Cardinal Ventures added, “Delivery
Agent lies at the heart of three very dynamic large markets:
Television and movie product placement, online advertising,
and interactive commerce. With e-commerce estimated at
$55 billion last year and yet representing only 1.6% of
overall retail sales, Delivery Agent and its customers
are well positioned to take advantage of today’s
tectonic shifts in advertising and the expected more than
doubling of e-commerce sales to $120 billion this year.”
Worldview Technology Partners, headquartered in Palo Alto,
has a 12-year track record of successful investing in
technology companies, particularly in Information Technology.
Cardinal Venture Capital invests in early stage information
technology companies, including enterprise software and
services, Internet infrastructure software, wireless applications,
electronic payments and digital media.
Delivery Agent, Inc., (www.deliveryagent.com) is the leader
in shopping enabled programming and measurement for television
shows, movies, sports, and music videos.
http://www.prweb.com/releases/2005/3/prweb221619.htm
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