FOR IMMEDIATE RELEASE
Impact Engine, Inc. raises first outside investment round; adds to Board
La Jolla – March 27, 2006 - Led by former executives from the investment banking and media industries, Impact Engine announced it has closed a $1.2 million convertible debt round; the company’s first outside round of financing.
Also announced is the launch of FlashAdEngine.com, a service enabling publishers to quickly create and improve multimedia banner ads. The service provides publishers a way to improve their advertisers’ ROI by providing an on demand catalog of agency quality ads that can be previewed, published and improved in real time. The service also includes live publishing tools and ties into major ad server formats.
The company launched at the April NAA Annual Convention in Chicago.
Over the past year, publishers, advertisers and Impact Engine, Inc. have been working together to solve the dilemma of how to offer the power of multimedia advertising in an easy to consume format that would enable advertisers to continuously improve messaging and creative in real time. The groundswell of support has enabled Impact Engine, Inc. to tailor the offering to today’s industry needs while creating a visionary roadmap for the continued success of advertiser and publisher alike.
The company also announces Greg Swanson, former Director of Interactive Media Sales for Lee Enterprises (NYSE: LEE), has joined its Board of Directors. As a 30 year veteran of the publishing industry, Greg brings extensive experience in online media, extensive contacts and traditional publishing to the Board.
“Impact Engine, Inc. is solving an important problem that previously did not have a solution. Publishers are under more pressure than ever to increase revenue online and their advertisers pay a premium price to have multimedia format. Yet, before FlashAdEngine.com, there was no way to deliver agency quality multimedia ads that can be refined and improved in real time. I am excited to add my name to the list of media executives supporting Impact Engine, Inc.’s vision.
Says Impact Engine, Inc. CEO Neil Greer, “After quietly bootstrapping the company through technology development and 3,000 customers, we felt the time was right to attract the support of the investment community. The size of the problem we are addressing and the enthusiastic support of our customers convinced us to seek outside financing.
Continues Greer, “Text based ads continue to serve their purpose, but the internet audience want to connect more intimately with relevant advertising. Multimedia Ads deliver 600% more response than static ads and the demand is only going to grow. Due to design and technical resource constraints, the biggest pain point the advertiser and publisher collectively feel is their inability to take full advantage of the market opportunity of multimedia advertising. FlashAdEngine.com erases this pain point.”
Because the FlashAdEngine.com service is sold in partnership with publishers, Impact Engine, Inc. says it is advancing advertisers’ and industry interests alike, as opposed to acting as a middle man which ads artificial costs and delays to the advertiser.
About ImpactEngine.com, Inc.
ImpactEngine.com, Inc., http://www.impactengine.com, is the worldwide leader in advancing online advertising through multimedia. The company is preferred by large and small publishers alike because it uniquely combines an extensive catalog of customizable, agency quality multimedia ads with tools that enable real time refinement of the messaging and creative behind the ads.
Contact: Tracey Fant, Director of Marketing, Impact Engine, Inc., 866.467.2289 or tfant@impactengine.com
