Perfect Market, a startup which offers publishers a service to monetize their online content, announced it has raised $6 million in Series C funding. Tribune Company led the round while existing investors Trinity Ventures, Rustic Canyon Partners and Idealab also participated. The company previously raised a total $15.6 million back in 2008.
What Perfect Market has to offer is a proprietary technology which optimizes a publisher's content. Basically, if a user searches for something on a search engine like Google, Perfect Market's clients could end up higher in search results. Especially for content which is older - for example, here on Vator we have all these episodes of Lessons Learned which go back a couple years, Perfect Market would want to come in and optimize our content so we'd get more value from it. In the end, the optimized content along with relevant ads could potentially increase revenue for publishers and ad network partners.
Tribune Company has actually been a client of Perfect Market since last year. Tribune said it has been using the startup's technology to help grow its advertising revenue across some of its online properties, which include the Los Angeles Times, Chicago Tribune, The Baltimore Sun and plenty more which can be found here.
“We look forward to having Tribune as our partner as we rapidly expand our reach and ability to serve publishers looking for new revenue streams,” said Julie Schoenfeld, CEO of Perfect Market in a statement.
Along with the funding announcement, Perfect Market said Dan Kazan, Tribune's SVP of Corporate Development would join the company's board of directors. Kazan commented, "At Tribune, we have seen excellent results using Perfect Market’s solution on our websites. We look forward to collaborating further with the company as other publishers discover how Perfect Market can give them a revenue lift from their online content."
Perfect Market said it would use the funds to expand its efforts to market and deploy its solution to the broad marketplace of newspapers, magazines, broadcasters with a web presence and other online publishers.