Chango completes $1.4 million Series A financing and opens NY office
Toronto, Canada, June 29, 2010 - Chango, the industry's first integrated search marketing demand side platform, today announced the completion of their $1.4 million Series A financing with the addition of Metamorphic Ventures and Geoff Judge to their existing investor syndicate that includes iNovia Capital and Extreme Venture Partners. Lewis Gersh, Managing Partner at Metamorphic, and Geoff Judge, angel investor and cofounder of 24/7 Real Media, will join Chango's board of directors.
Chango's demand side platform, purpose-built for search marketers and agencies, enables advertisers to start reaching new customers across display exchanges in minutes, without any change to how they run search marketing campaigns today. After a simple import of existing AdWords and Yahoo! Search Marketing campaigns, search marketers can start finding new customers among the billions of daily impressions that flow through real-time display exchanges with completely integrated keyword targeting, CPC bidding, dynamic ad-serving, and CPA conversion tracking.
"Chango has a fresh approach to search marketing that finds new customers on real-time display exchanges by retargeting their recent search activity on Google, Yahoo!, and Bing; for search engine marketers, Chango finally brings search targeting capabilities to display" said Lewis Gersh, partner with Metamorphic Ventures. "We are excited to work with Chris Sukornyk, Chango's CEO, a dynamic and successful repeat entrepreneur."
Chango is currently monitoring billions of display impressions a day across multiple real-time exchanges, and through exclusive data partnerships, is able to retarget the recent search activity of over 200 million unique searchers. For search marketers and agencies, new customers are available with a simple self-service account set-up and campaign import from AdWords or Yahoo! Search Marketing.
"Search marketers see the opportunity of display advertising, but often have a difficult time making display campaigns work using an ad-hoc assortment of brand advertising technologies, targeting methods, and pricing models", said Chris Sukornyk, founder and CEO of Chango. "Chango is a purpose-built platform that makes display work for search marketers by making it work like search – same keyword targeting, same CPC pricing, same dynamic ads, same CPA conversion tracking, same ROI."
Chango is headquartered in Toronto, Canada and has recently opened US offices at 450 Park Ave. South, New York for their growing sales team. Advertisers can contact Chango at http://chango.com.
About Chango
Chango is the industry's first search marketing demand side platform specifically designed to enable search marketers and agencies to extend existing search campaigns to the billions of daily impressions available on real-time ad exchanges. Using an integrated search retargeting technology, Chango makes the transition to display easy for search marketers by providing the same keyword bidding, CPC pricing, dynamic creative, and CPA conversion tracking they have come to expect from search engine marketing platforms. For more information, visit http://chango.com and follow Chango at http://twitter.com/changoinc.
About Chris Sukornyk - CEO
Prior to founding Chango, Mr. Sukornyk co-founded The X-Stream Network which became Europe's fastest growing Free ISP. X-Stream was sold in March 2000 to LibertySurf for US $75 Million. More recently, Mr. Sukornyk co-founded Bubbleshare, a consumer focused photo sharing web application which was sold to Kaboose (TSX: KAB). In addition, Mr. Sukornyk founded Fivelimes, a green focused social-shopping site that was recently sold to Avid Life Media. Mr. Sukornyk left Kaboose in early 2008 to pursue the launch of Chango.
About Metamorphic
Metamorphic Ventures is a seed/early stage fund investing in digital media and transaction processing technologies. Digital media investments are focused on B2B web, mobile and app services and include FetchBack (recently sold to GSI Commerce GSIC), Tynt.com, iSocket.com, MyLikes.com, MadisonLogic.com, TuriyaMedia.com, GoodHealthAdvertising.com, Encoding.com and others. For more information, visit www.metamorphic.vc
About iNovia Capital
iNovia provides venture capital to entrepreneurs who transform innovations into successful companies. The team is comprised of sector experts in information technology, life sciences, and clean tech. In addition, iNovia's extensive network of industry and academic partners provides portfolio companies with unique access to intellectual property. iNovia has $165M under management across two seed and early stage funds. For more information, visitwww.inoviacapital.com or follow iNovia on Twitter at http://twitter.com/iNovia.
About Extreme Venture Partners
Extreme Venture Partners (EVP) is focused on providing early stage venture capital and management expertise to help propel start-ups into the big-leagues. We work with smart people who have great ideas for disruptive businesses, and the energy and ability to deliver. For more information, visit www.extremevp.com.
CONTACT:
For Chango:
Karim Mitha
karim@chango.com
416.479.0778 x203
For iNovia Capital:
Tara Pellegrino
tpellegrino@inoviacapital.com
514.982.2251 x300
For Extreme Venture Partners:
Amar Varma
amar@extremevp.com
416.907.9470
For Metamorphic Venture Partners
Lewis D. Gersh
lg@mv.vc
212.209.3366
