LeadiD Raises $7M in Series A Funding Round
PHILADELPHIA, PA–(Marketwired – Apr 30, 2014) – LeadiD, the first neutral, privacy-friendly, trusted arbiter of lead transactions, announced today that it has raised $7M in Series A funding from Comcast Ventures and Tribeca Venture Partners. Genacast Ventures, an early-stage technology fund affiliated with Comcast, which had led LeadiD’s seed funding, also participated in this round. This brings the total of funds raised since the company’s inception to $9.7M. Today’s announcement was initially mentioned on re/code.
LeadiD is growing dramatically. The raising of this Series A round of funding comes just a few months after the company’s announcement that it had tripled both platform usage and revenue over the course of 2013. Located in Ambler, PA, just west of Philadelphia, the start-up will use new funding to grow its team and further strengthen its lead authentication technology for both buyers and sellers. LeadiD has already generated more than one billion unique LeadiDs for its 350 clients — a list that includes major brands throughout the education, mortgage, insurance and automotive verticals.
“Online Lead Generation is a multi-billion dollar industry,” said Ross Shanken, Founder and CEO of LeadiD. “But the practice of buying and selling of leads traditionally has been highly inefficient. We developed and scaled a system that allows sellers and buyers to determine the value of a lead and make purchase and resourcing decisions accordingly. This investment is the latest indication that we’re moving the marketplace in the right direction.”