Flite is thrilled to announce the close of our $12m Series C. Neil Sequeira and General Catalyst led the round, with participation from our existing investors Sequoia Capital, Hummer Winblad, and NCD Investors.
The investment provides three key benefits:
- The round cements our position as the leader in cloud-based advertising.
- Cloud-based advertising represents the next chapter in brand marketing. Cloud-based ads allow brands to shift their spend from poorly performing standard display ads to ads that are programmed by the cloud and the best of today’s real-time web.
- The net result of flighting cloud-based ads is a 10+x increase in brand recall, purchase intent, and marketing ROI.
- General Catalyst’s investment reflects the strength of our partner and customer list. The world’s leading brands and publishers rely on Flite, including Yahoo!, Microsoft, Toyota, L’Oreal, LinkedIn, and IDG. Flite’s ads reach over 120,000,000 unique users a month and each day we capture over 50,000,000 unique in-unit engagements.
- With $26m raised to date, Flite is well capitalized to invest in our future.
- We plan to add to our world-class engineering team in order to invest in the Flite platform - web-based builders, real-time metrics, live updates, and cross-platform delivery.
- Flite will continue to make our platform extensible, thereby allowing brands to leverage virtually any service or content in their brand advertising.
- Flite’s customers will continue to receive world-class account management, service, and sales support. We will grow our Chicago and NYC presences, while adding coverage for other key markets.
- The additional capital will allow Flite to continue to eliminate the overly bespoke, manual, and cumbersome nature of today’s brand executions. Marketers today demand agile solutions to quickly and easily capture the promise of real-time branding. Our partners and customers will be able to do more quickly, more efficiently, and with greater impact and effect.
Finally, I’d like to thank our employees, investors, and customers for the continued support. Flite’s culture of excellence and collaboration allows us to out-innovate and out-compete far larger competitors. Our investors, backers of Google, Yahoo!, Apple, Omniture, and other leading companies, provide us with the counsel and resources to follow in the footsteps of giants. Finally, our customers provide us with the inspiration and incentive to continue to redefine brand marketing and to ensure that cloud-based advertising becomes the rule and not the exception.
Will Price is the CEO of Flite.