UK-based web monetisation platform Skimlinks secured $4.5m on Friday in a series B round led by Bertelsmann Digital Media Investments (BDMI), the corporate venturing unit for media conglomerate Bertelsmann. BDMI was joined in the round by startup accelerator 500 Startups and investment firm Venrex Investment Mnagement, as well as existing investors, the investment firm Sussex Place Ventures, early stage investor The Accelerator Group and the UK-based independent endowment the National Endowent for Science, Technology and the Arts (NESTA). The latest round brings Skimlinks’ overall funding to $7.5m. Skimlinks is planning to use the money to finance growth in existing and new vertical markets, and to fund research and development. As part of the investment, Urs Cete, managing director of BDMI, will be joining the Skimlinks Board. Cete said: "We are excited to be investing in Skimlinks. The team is energetic and inventive, and the space is open for technical innovation." Alicia Navarro, chief executive officer of Skimlinks, added: "We chose BDMI to lead this round because of its stellar experience in both online publishing and advertising. We’re delighted that all of our investors continue to believe in the value Skimlinks delivers, and we look forward to using this investment to continue our rapid expansion throughout Europe and the United States." Founded in 2008, Skimlinks operates an online monetisation platform that allows purchasers to financially benefit from their content. Nearly $20m was spent in online sales using the Skimlinks platform in September alone.
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Bertelsmann helps Skimlinks monetise $7.5m
Nov 14, 2011 • Robert Lavine
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