SOUTH SAN FRANCISCO, Calif., April 1, 2008 /PRNewswire/ -- CompareNetworks, Inc., a global online B2B media company for the life science and healthcare industries, today announced that it has closed a round of financing from Alta Communications.
Based in South San Francisco, California, CompareNetworks operates vertical websites and email newsletters that target life science researchers, medical and dental professionals. The CompareNetworks sites, which include biocompare.com, medcompare.com, dentalcompare.com and ophthalmologyweb.com, help marketers in their respective industries target decision makers in these specialized fields. CompareNetworks generates highly qualified sales leads through its comprehensive marketplaces, targeted editorial and video content.
Today's announcement follows a strong growth year for CompareNetworks. "We couldn't be happier with the results we have achieved," said Paul Gatti, CEO of CompareNetworks. "Our growth leaves us confident in the reputation we have earned for ourselves in the communities and advertisers we service. Our partnership with Alta Communications will allow us to accelerate growth in 2008 and beyond. We look forward to being the driving force in new media for these markets and others."
CompareNetworks has had significant revenue growth over the past 3 years and now has over 400 recurring customers. Additionally, CompareNetworks continues to expand its services with more user-driven content, specialized search tools, and online multimedia education.
"We are excited to be working with the CompareNetworks team," said Timothy Dibble, managing partner at Alta Communications, "The trend of ad dollars moving online will continue for the foreseeable future and CompareNetworks is in the perfect place to benefit."
Headquartered in South San Francisco, California, CompareNetworks is a leading media company for the life science and healthcare industries. The CompareNetworks websites assist health and life science professionals make informed purchasing decisions by offering a long-needed source for product information and industry news. With an extensive directory of more than 600,000 products with complete specifications, and thousands of product videos CompareNetworks provides the most up-to-date and efficient technology guide on the Web.
Alta Communications is a Boston-based private equity firm formed in 1996 to focus exclusively on the media and telecommunications industries. Currently Alta has approximately $1.5 billion of capital under management in five limited partnerships. Limited partners consist primarily of large pension funds and university endowments. The investment team has more than 100 years of collective communications experience.
|SOURCE CompareNetworks, Inc.|
Copyright©2008 PR Newswire.
All rights reserved