DataSphere Technologies already helps power the hyperlocal news sites for TV stations owned by Fisher Communications, Gannett, Meredith and others. And now with a fresh $8 million round of new financing the Bellevue company is looking to add even more.
“DataSphere’s dramatic growth trajectory is a reflection of the value it provides to over 100 media partners and tens of thousands of local advertisers,” said Satbir Khanuja, CEO of DataSphere. At this point, DataSphere said that its ads are now targeted across more than 1,900 neighborhoods in the U.S.
Investors in the company include new investor First Analysis as well as existing venture capital partners Ignition Partners and OVP Venture Partners. Total funding in the company, which now employs 420 people primarily in Bellevue and Tempe, Arizona, now stands at $32.5 million.
In the Seattle area, DataSphere’s platform is used to power the hyperlocal blogs for Fisher Communications’ KOMO TV.
“With its leadership position in local online marketing and broad range of technology and sales capabilities, we believe DataSphere is in a unique and powerful position to capitalize on the ongoing disruption in local advertising,” said Howard Smith, Managing Director of First Analysis, in a statement. “Local businesses are facing an increasingly complex marketing environment and DataSphere’s ability to reach and service these businesses in a simple and effective manner will be an important contribution to the evolution of this space.”