Innovative Web Marketer Closes Series A Financing; Plans Major National Expansion
BOSTON, MA. -- April 15, 2011 -- CampusLIVE, a Boston-based company blazing a bold new path to engage college students with their favorite brands, is proud to announce it has entered its next phase of dynamic growth with the closing of a $3.1 million round of venture funding from Highland Capital Partners and Charles River Ventures.
The Series A financing is being led by Bob Davis, General Partner for Highland Capital Partners, and Jon Auerbach, General Partner for Charles River Ventures. Both will be joining the Board of Directors for CampusLIVE.
“CampusLIVE has successfully altered the advertising model for brands to connect and engage with college students,” said Bob Davis of Highland Capital Partners. “Through their innovative use of on-line games, polls and raffles, Boris Revsin and his team have proven the success of an advertising metric based on measurable results and engagement, not just brand impressions.”
CampusLIVE uses social networking tools to get advertisers in front of a key demographic: college-aged consumers who live their lives and make their purchasing decisions on-line, rather than being influenced by traditional media including print newspapers, television & radio. By engaging this elusive audience where they live and work in a manner completely authentic to their on-line lives, CampusLIVE is able to deliver measurable and actionable results to its brand partners.
“We are excited to be working with two of the premier venture firms in the world,” said CampusLIVE Founder & CEO, Boris Revsin. “Their investment shows an incredible commitment and confidence from Highland and Charles River in both the CampusLIVE business model and our collective vision for the future of interactive marketing.”
CampusLIVE will use the investment to scale its platform to foster partnerships with larger scale national brands looking to connect directly with the all important youth market. CampusLIVE has built a network which includes over 200 colleges and universities nationwide, and Revsin expects to expand that network to 600 colleges and beyond by the end of 2011.
Revsin and CTO, Jared Stenquist founded the company in 2008 in their UMass-Amherst dorm room as a service to enable students to better connect with on and off-campus resources, and their work proved immediately profitable. Sensing the broader commercial potential of their vision, Revsin and Stenquist left UMass to focus all of their energy on what they believed was going to be a game changer for companies and advertising agencies. They spent their efforts evolving and improving their original vision into the broader based marketing platform that is proving so successful today.
CampusLIVE has successfully executed marketing promotions and programs for established national and regional brands including American Airlines, Foxwoods Resort and Casino, The United States Marines, Hotelplanner.com, Ace Ticket and many others. The next few weeks will see the launch of numerous additional brands and challenges, expanding the offering significantly.