DataSphere Raises $8 Million In Funding

Online marketing company DataSphere Technologies  has raised an $8 million series D round of funding.  First Analysis, a private growth equity investor, joined existing investors including OVP Venture Partners and Ignition Partners in funding the round. The investment will be used to expand service offerings and sales capacity, continuing DataSphere’s growth in the $100 billion U.S. local advertising market.

DataSphere says its content solutions, local targeting technology and sales capabilities now reach more than 50 million unique visitors with ads targeted across 1,900 neighborhoods.

“With its leadership position in local online marketing and broad range of technology and sales capabilities, we believe DataSphere is in a unique and powerful position to capitalize on the ongoing disruption in local advertising,” said Howard Smith, managing director, First Analysis. “Local businesses are facing an increasingly complex marketing environment and DataSphere’s ability to reach and service these businesses in a simple and effective manner will be an important contribution to the evolution of this space.”

“Local marketing is experiencing a massive shift as both consumers and businesses move online, “ explained John Connors, partner at Ignition Partners. “We see DataSphere as providing the next-generation platform to manage the exploding number of online marketing options in a way that’s appropriate and effective for local businesses that cannot afford their own marketing staff.”