Tag Management System, TagMan closes $2.2 Million Series A Investment Led by Greycroft Partners

New York, NY (PRWEB) January 11, 2011

TagMan, the Tag Management System with real-time Attribution for enterprise e-commerce, today announced it has closed $ 2.25 million in Series A funding led by Greycroft Partners. Other investors in this round include iNovia Capital and Angels.

TagMan, the smart container, that sits on more than 100 e-commerce sites, including Subaru, Virgin Atlantic and Air New Zealand, previously raised $ 2.1 million in Angel funding, the most recent in February 2010 led by Cambridge Angels and the London Business School E100.

TagMan is used to manage online marketing tags/pixels (the pieces of code used by the digital advertising industry to track the performance of online campaigns) - and the data they provide - much more effectively, independently and with more control over privacy. It is used by e-commerce businesses to connect or switch between online marketing technology providers such as data systems, retargeting networks and web analytics providers more freely, and track the entire multi-touch attribution path to conversion of online customers in one system, in real time.

"TagMan was the first Tag Management System and has established itself as the market leader and trend-setter in both the US and Europe," says TagMan founder and CEO Paul Cook. "We will put the new funding to immediate use in releasing version 3 of our technology, building out our infrastructure to support the continuing flow of new, enterprise e-commerce clients and to develop the technology so that we can continue to break new ground on behalf of those businesses."

"Tagman has been very successful in helping e-commerce companies and marketers improve the performance of their online marketing, and this has ancillary benefits for consumers and innovative vendors in the ad tech market," says Ian Sigalow, partner at Greycroft Partners, who has previously invested in Buddy Media and Collective. "We are very excited about the potential for TagMan's agnostic and universal solution to the problems presented by tags, pixels, and attribution.

Following the new investment, TagMan has expanded its Board of Directors with three new non-executive appointments: Seth Brody, representing Greycroft, an experienced digital media executive was previously a Group Vice President/GM of online travel agent Orbitz Worldwide; Shaun Gregory, new media director at O2 who also becomes Chairman; and John Taysom, representing Cambridge Angels, a director, founder or investor in several online companies, including Advertising.com. The remaining Board will continue to be comprised of CEO Paul Cook and TagMan General Manager Jon Baron.

Greycroft Partners LCC (http://www.greycroftpartners.com) founded in 2006, is a venture capital partnership, formed to invest in promising digital media companies. Greycroft has raised over $ 200 million and invests between $ 500,000 and $ 5 million at inception, and will increase on a staged basis to double that amount over time. Their portfolio companies benefit from active, hands-on assistance in all phases of expansion, including marketing, finance, and management development.

With offices in New York and Los Angeles, the company leverages an extensive network of media and technology industry connections to help investees gain visibility, build strategic relationships, and successfully bring their products to market. A list of its portfolio companies can be found here: Portfolio | Greycroft Partners LLC

iNovia Capital (http://inoviacapital.com/) provides venture capital to entrepreneurs who transform innovations into successful companies. The team comprises sector experts focused on mobile, consumer internet, internet communications, software and digital media. iNovia has $ 165 million under management across two seed and early stage IT and Life Sciences funds.

TagMan is the smart container tag for enterprise e-commerce. By acting as a single, universal tag and interface through which tracking tags and pixels can be deployed, online marketers can save time and money in the way they implement, manage and track campaigns. TagMan goes beyond last-click by capturing the complete path to conversion of online customers and providing real-time attribution reports that alleviate discrepancies between display, CPA and PPC online advertising channels.

TagMan was founded in November 2007 and has offices in New York and London. Clients include Virgin Atlantic, Subaru, Boden, Laura Ashley, Thomas Cook and Air New Zealand. TagMan recently won the DPAC Award as the Best Advertising Analytics company as determined by peers in digital media and marketing.

###

More Angel Investor Capital Press Releases

Difusi Introduces Medius and Maxim, a New Series of High-End MacBook and MacBook Pro Leather Carrying Cases

Kansas City, MO (PRWEB) September 12, 2006

Difusi Corporation, known for its iPod and Mac accessories, introduces the new medius and maxim cases for 13.3, 15 & 17 Inch notebooks designed to accommodate the new MacBook and MacBook Pro models from Apple Computer. The cases arrive in a choice of exteriors that include top-grain leather and Jacquard-nylon or full body top-grain leather construction.

Difusi continues its tradition of offering incredibly functional solutions for the Mac platform, said Mike Wright, the president and CEO of difusi. The rollout of these new products mark a milestone in our design capabilities, thus allowing difusi products to compete with far more expensive cases but to also share the stage with some of the larger brands.

We designed these exceptional cases through the integration of both form and function as well as integrated several cutting edge features that we develop to help differentiate our offerings from other vendors in an increasingly crowded market segment.

The new medius and maxim cases are outfitted with several features we believe will appeal to the consumer looking for an affordable and feature rich notebook case. Among these features are optional add-ons that include an interior illumination device known as Bright*, Power**, and Travel-Safe Technologies.

The breakthrough with the introduction of the medius and maxim cases are in their price points. These difusi cases incorporate features such as zone-based organization and extra interior adjustable padding to give these cases a 5 foot drop test rating that are usually only available in very expensive high-end case lines.

While compact, these cases look incredibly cutting edge. The shear amount of storage and accessibility is absolutely second to none.

Features

The cases are jam-packed with features, each come with padded leather on all handles and carrying straps and exterior body of the carrying cases. Hardware includes rugged zippers with padded leather pulls, as well as Jacquard nylon interiors that have been chosen because of its ability to hold up to everyday use. The cases are built using (9) Nine panel construction and each come with six main compartments for carrying cables, accessories, documents, CDs, DVD movies, digital cameras, MP3 players and more.

The cases were designed with Apples look and feel in mind, from high grade soft black leather to an interior sporting reflective light-grey nylon. Banding that holds the bright fixture to provide lighting for items in the case or elsewhere.

Interior Illumination (Bright)

"When is a light, not just a light? When difusi breaks all convention to offer one of the most hi-tech lighting solutions in the industry. We call our core lighting technology 'Bright'," Wright says. Bright goes beyond standard light design to incorporate power maximizing circuit design and material selection of components that last indefinitely. Convention tells us that lights should be designed with the body comprising of a power source, with a grouping of lights usually hanging at either end.

We threw all convention out the window and embarked on designing a new Illuminating Fixture from end-to-end, said Wright. We accomplished this by asking ourselves, how do we maximize the light output, minimize the power consumption, what materials are going to provide the most stability, and most importantly, make it sleek and easy to use.

Bright is a very high-quality illumination device made from highly polished, milled Aircraft Aluminum and is fitted with (8) eight super bright white LED's on a PCB design that incorporates LP output. Simply stated that is the brightest possible output of light while consuming less than 8% of traditional LED based lighting technologies. Bright is available directly through the difusi website for $ 32.95.

This copyrighted circuitry prevents drainage of battery power, thus enabling the light to draw from a 21/23 12 volt battery, only when switched on. Shelf-life of the installed battery is estimated at 36 months. Replacement batteries are found wherever you purchase door opening batteries. (Approximately $ 1.12 USD)

Difusi also announces today a redesign to its award winning nanoValet iPod nano leather case series and the inclusion of ClearGuard film to protect the LCD Screen, Click Wheel, and rear body panel of all iPod nano MP3 Players from Apple Computer. Clearguard is now provided as a free add-on in all nanoValet packages.

Lifetime Warranty

The medius and maxim cases come with a limited Lifetime Warranty. We believe in the quality of our products, Wright says, and back our belief with a limited Lifetime Use Warranty. We would like our customers to be satisfied with our products through and through, so we have built our products to last through a lifetime of use.

Pricing and Availability

The medius case line starts out at $ 89.95 for the JacQuard Nylon and Leather Exterior, the full leather medius case will sell for $ 149.95. The maxim case line for 17" laptops starts at just $ 99.95 and the full leather maxim case has a suggested retail price of $ 159.95.

The medius and maxim cases will be available through select retailers, online distributors and from the difusi online store. In Canada, difusi products are now available through our Canadian partner http://www.mymacdealer.com

Visit difusi.com for additional details.

# # #

The PayPerPost Revolution Accelerates, Sponsored Blogging Marketplace Secures $7 Million Series B Draper Fisher Jurvetson Leads Round and Joins Board of Directors

Orlando, FL (PRWEB) June 13, 2007

PayPerPost, the leading marketplace for advertisers to reach bloggers and other consumer content creators, today announced it has completed a $ 7 million second round investment led by Draper Fisher Jurvetson, an investor in the companies Series A and one of the world's leading high-technology venture capital firms.

The financing brings the total amount of capital raised by PayPerPost to over $ 10 million, giving the company considerable resources for further development as the industry's leading Consumer Generated Advertising marketplace. Additional participants in the round include insiders Inflexion Partners and Village Ventures as well as new investor DFJ Gotham. With this investment, DFJ Managing Director Josh Stein also joins PayPerPost's Board of Directors.

"PayPerPost created this exciting new advertising space and has established itself as the industry leader," said Ted Murphy, chief executive officer of PayPerPost. "Although we've only used a portion of our first round capital, this added support from investors unlocks significant growth potential. Our content creator and advertiser ROI metrics clearly demonstrate the upside for PayPerPost's model. We intend to use this capital to build the infrastructure, visibility and professional expertise necessary to reach and retain a greater network of advertisers and content creators than ever before."

Since its founding in June of 2006, PayPerPost has signed more than 6,500 advertisers to its groundbreaking service, which has enabled Consumer Content Creators to be compensated for their efforts discussing specific companies, products or services via blogs, videos or other media. The content creators are required to disclose relationships with advertisers on their blog, providing transparency for the end reader. Over 125,000 Internet postings, most in the form of blogs, have already earned money for their creators through PayPerPost's innovative marketplace. PayPerPost recently released PayPerPost Direct, a disruptive new service that allows advertisers to contract and negotiate directly with individual bloggers they identify through a safe, managed system.

"PayPerPost has laid a strong foundation for the future," noted Tim Draper, founder and managing director of Draper Fisher Jurvetson. "It continues to attract a critical mass of participants from both the advertising and blogging communities. Analogous to Overture's sponsored search model, we believe PayPerPost's business model holds disruptive potential and will enable the company to thrive in the evolving paid-content arena."

To mark the $ 7 million dollar funding, PayPerPost has launched a new website detailing the company's service offering at http://www.payperpost.com. Bloggers and advertisers can easily sign up at the site and begin leveraging the self service marketplace.

About PayPerPost:

PayPerPost is the leading marketplace for Consumer Generated Advertising. The PayPerPost platform connects advertisers with bloggers and other consumer content creators in order to develop and distribute compelling content throughout the blogoshpere and social networks. Advertisers compensate bloggers to promote their products, services and websites, providing bloggers with a way to monetize their blog and traffic unlike ever before. The company is backed by prominent investors including, Inflexion Partners, Village Ventures, DFJ Gotham and Draper Fisher Jurvetson. Join the PayPerPost Revolution at, http://www.PayPerPost.com.

About Draper Fisher Jurvetson:

Draper Fisher Jurvetson is the only venture capital firm with global presence through a network of affiliated funds, with offices in more than 30 cities around the world and more than $ 3.5 billion in capital commitments. DFJ's mission is to identify, serve and provide capital for extraordinary entrepreneurs anywhere who are determined to change the world. Over the past twenty years, DFJ has been proud to back approximately 300 companies across many sectors including such industry changing catalysts as Hotmail (acquired by MSFT), Baidu (BIDU), Skype (acquired by EBAY), United Online (UNTD), Overture (acquired by YHOO), Interwoven (IWOV), 411 (acquired by YHOO), Parametric (PMTC), and Digidesign (acquired by AVID). For more, please visit http://www.dfj.com.

About Inflexion Partners:

Inflexion Fund, L.P., "Florida's Venture Fund", is a seed and early-stage venture capital fund organized with an emphasis on company building and harnessing the regional, national, and international resources of the fund's managers and strategic partners. The managing partners of Inflexion leverage a mix of operating and venture experience in over sixty early-stage companies to back passionate entrepreneurs, build companies as a trusted partner and help founders turn their vision into reality. For more, please visit http://www.inflexionvc.com.

About Village Ventures:

Village Ventures is an early stage venture capital firm investing in exceptional entrepreneurs building information technology and life sciences companies in emerging domestic geographies. Village Ventures identifies promising investment opportunities in partnership with its nationwide network of 13 early stage venture capital funds that are focused on these emerging domestic geographic markets. The model combines local Partner Fund capital and hands-on investment practices with Village Ventures' centralized services and national network to help create compelling and innovative companies. For more, please visit http://www.villageventures.com.

About DFJ Gotham:

DFJ Gotham Ventures is a venture capital firm focused on early-stage technology companies primarily in the Northeast U.S. Since its first investment in 2000, DFJ Gotham has backed over 20 companies spanning a wide array of technology sectors. DFJ Gotham partners with extraordinary teams of entrepreneurs to build strong and successful businesses that make a huge impact in their industries. DFJ Gotham takes pride in being an active partner, leveraging its experience, knowledge and relationships to provide substantial value to its portfolio companies. DFJ Gotham is proud to have backed such category leaders as Massive (acquired by MSFT), XOsoft (acquired by CA), Q-Link (acquired by Adobe), Mimeo.com and ContextWeb, among others. For more, please visit http://www.dfjgotham.com.

# # #

Lijit Networks, Inc. Secures $3.3 Million Series B Investment Round Led by Boulder Ventures

Louisville, CO (PRWEB) June 25, 2007

Lijit Networks, Inc., a company that provides revolutionary search tools and statistics for blog publishers, announced today that it has secured $ 3.3 million in Series B funding. The round was led by Boulder Ventures, who joins existing investors, Colorado Fund I, managed by High Country Venture, and Brad Feld. The investment is designed to fuel Lijit's continued exponential growth, as more and more publishers adopt Lijit's services and technology.

"Lijit provides tangible value to both readers and publishers by delivering highly relevant search results and turning search interactions into compelling statistics", remarks Peter Roshko, General Partner at Boulder Ventures, who will join Lijit's Board of Directors. "Publishers have very few feedback channels that help them better understand and serve their reader community. With this investment Boulder Ventures can help Lijit capitalize on their success to date in fulfilling this need and take their services to the next level."

Lijit's search service allows readers to search blog publishers' posts, bookmarks, blogroll, and more from a widget placed on the publisher's property. "Lijit's Search Wijit turns my technology industry interests and expertise into a powerful resource for my readers," says Dr. Paul Kedrosky, venture capitalist, media personality, entrepreneur, and author of one of the best known business blogs on the Internet, Infectious Greed (paul.kedrosky.com). "I'm able to use Lijit's search statistics to understand what brings readers to my blog, what they search for while they're there, and which results they find most useful. It's given me valuable insight into my reader community."

Creating and maintaining a personalized Lijit Search Wijit is very quick and simple, thanks to Lijit's automated identity and network discovery technology. "Each month Lijit's search capability is seen over 8 million times on publishing properties across the Internet, which is a testament to the service's value and ease of use," comments Todd Vernon, CEO of Lijit. "This investment will allow us to keep pace with our growth curve, continue development of new and exciting features, and explore new partnering opportunities."

About Boulder Ventures, Ltd.

Boulder Ventures manages over $ 300 million in venture capital partnerships, making equity investments in start-up, early stage, and emerging growth companies. Boulder Ventures primarily seeks opportunities in enterprise software, Internet-based business applications and services, communications infrastructure and services and life sciences tools and services. Boulder Ventures works in partnership with entrepreneurs, providing easily accessible, active support to develop novel business concepts into important companies. Boulder Ventures has offices in Owings Mills, Maryland and Boulder, Colorado. For more information, visit http://www.boulderventures.com.

About High Country Venture

High Country Venture manages Colorado Fund I (http://www.coloradofund1.com), a venture capital fund seeking to invest in seed and early stage businesses in Colorado. To date, the fund has made several investments in various industries including life sciences, information technology, and retail. It is located in Boulder, Colorado.

About Lijit Networks, Inc.

Lijit Networks, Inc. was incorporated in June 2006. The Lijit service was developed to search people, their content, and connections in order to deliver search results with unprecedented relevance. The company is led by Todd Vernon, CEO. Vernon, a founder and former CTO of Raindance Communications, brings to the team his management experience in the high-tech sector and enthusiasm for leading-edge web technologies. Stan James, founder and CTO of Lijit, brings years of research in social trust and a portfolio of intellectual property in the space. http://www.lijit.com

###

Find More Series B Round Press Releases

Aspen Avionics Completes $8.5 Million Series B Financing

Albuquerque, NM (PRWEB) July 23, 2007

Aspen Avionics (http://www.aspenavionics.com) announced today the closing of an $ 8.5 million round of venture financing led by Wasatch Venture Fund and joined by Sun Mountain Capital. In this Series B round, all of Aspens original investors matched or increased the size of their original investments, and Sun Mountain came in as a new investor.

"We are extremely pleased by the confidence our investors have shown in Aspens strategy and progress," said John Uczekaj, Aspen Avionics President and CEO. As we showcase our major new product introduction at EAA AirVenture in Oshkosh, this round of funding ensures that Aspen has the resources to continue to build a major avionics company, delivering state-of-the-art products and world-class support to our customers.

In a related move, Stephanie Spong, a principal of Wasatch Venture Fund, will take a seat on Aspens Board of Directors.

"We are delighted to welcome Stephanie Spong to our Board," said Uczekaj.

Aspen closed its Series A venture round in December 2005, with investments by Granite Ventures, Fort Washington Investment Advisors, vSpring Capital and Wasatch Venture Fund.

About Aspen Avionics, Inc.

Aspen Avionics (http://www.aspenavionics.com) specializes in bringing the most advanced technology and capability from the commercial and business aviation markets into general aviation cockpitsand budgets. Our products increase situational awareness and reduce pilot workload, making it even easier and safer to fly in both VFR and IFR conditions. The way we look at it, getting the latest avionics technology shouldnt always mean spending a lot of moneyon equipment or installation. At Aspen Avionics, we design products to be affordable, easy to install, and easy to own. The company can be found on the web at http://www.aspenavionics.com or may be reached at (505) 856-5034.

###

Centice Corporation Closes on $6.1 Million Series C Financing - Funds to Support Commercialization of Innovative PASS Rx

Morrisville, NC (PRWEB) October 21, 2009

Centice Corporation, a pioneer in drug verification and safety products, announced today the successful completion of a $ 6.1 million Series C financing from its existing investors along with a new investor, Fulcrum Financial Group, LP. The funds will be used to support ongoing commercialization efforts for Centice's innovative PASS Rx prescription verification product for the retail and hospital outpatient pharmacy marketplace. Along with Fulcrum Financial Group, L.P., existing investors participating in the $ 6.1 million financing include The Aurora Funds, Inc., S-Group Direct Investments Ltd., Innovation Ventures LP and several individuals.

"We are pleased to have received the new funds. This shows the continued support of our current investors. We are also very excited about the addition of Fulcrum Financial Group to our investor base and we look forward to working with them", said Scott Albert, CEO and Chairman of the Centice Board of Directors. "Release 3.0 of our PASS Rx system will be out in the near term and these funds will allow us to appropriately position, market and sell the product to pharmacies nationwide", he added.

Increased script volume, fewer resources and manual subjective verification methodologies can unfortunately result in a greater risk of medication errors in the pharmacy. PASS Rx is the first and only product that utilizes patented spectroscopy and machine vision sensor technologies to confirm the accuracy of a pharmacy's dispensed solid dose medications in a matter of seconds. Centice technologies have additional applicability beyond just the verification of solid medications in the pharmacy, and the company has plans to develop future products for solid drug identification, liquid medication verification and counterfeit drug detection.

About Centice Corporation

Centice, founded in 2004 and headquartered in Morrisville, NC, is commercializing patented and patent-pending computational sensor and machine vision technology. The PASS Rx

NetProspex, New Entrant in the $20bn Sales Desktop Market for Trading Executive Contacts, Secures Series B Funding

Waltham, MA (PRWEB) May 23, 2008

NetProspex Inc., a recent entrant in the market to create the world's most accurate and extensive database of sales contacts, announced that it has secured Series B funding from angel investors. The company will use the funding to further develop its proprietary tools to bring accurate sales contact information to the sales desktop.

NetProspex helps customers maximize their ROI by providing them with higher quality, and more accurate, sales leads. Customers pool their contacts with NetProspex's database in exchange for new contacts. A range of proprietary technologies is used to ensure that the customer-supplied data is validated up front and that the quality of the database is maintained over time. The result is a unique resource of executive contacts that reaches far deeper than alternatives.

"Our business has been growing at a brisk pace and as a result we were able to complete our funding round in less than 2 months. This continued vote of confidence from our investors is truly gratifying," says Gary Halliwell, CEO and founder of NetProspex. "Our work in raising the bar on data quality for sales contacts and the success of our contact trading platform has laid the groundwork for continued growth of the company."

NetProspex angel investors include business media publishing veterans Rikki Tahta, Simon Murdoch, Roland Beaulieu and Gary Mueller.

About NetProspex

Founded in 2006, NetProspex understands that effective sales efforts require the most in-depth and accurate prospect data. The company's core product line overlays user-contributed and commercial sales lead data with multiple layers of quality control to produce an entirely unique and highly effective sales and marketing contact database. With over 2.5 million accurate business contacts across 350,000 companies, NetProspex is a major new source of contacts, including difficult-to-find mid-management decision makers across North American businesses. For more information or a free trial, visit http://www.netprospex.com.

###

Driving Sports TV Announces Official Live Coverage of Round 5 of the Rally America Racing Series

Redmond, WA (PRWEB) June 2, 2008

Driving Sports today announced that it would be presenting live worldwide coverage of the 2008 Waste Management Susquehannock Trail Performance Rally presented by Citizen's and Northern Bank, Round 5 in the Rally America Championship series, scheduled for June 6 and 7.

As part of this groundbreaking coverage, Driving Sports will present live video streams, a dynamic event blog, cell phone SMS alerts and daily action recaps through its web site http://www.drivingsports.com. This will be the first time a Rally America regular series round has featured such extensive live coverage. The event is a crucial step for competitors as they fight for coveted invitations to the 2008 ESPN X Games in Los Angeles.

"We are very excited to bring some of the best rally action in the world to a wider global audience," said Driving Sports Producer, Ryan Douthit. He continued, "We've lined up a talented team to bring the unfiltered excitement of professional rally to new and existing fans of the series!"

Viewers will have the opportunity to watch and interact with action sports stars, Dave Mirra, Travis Pastrana, Ken Block and Andrew-Comrie Picard, as they fight against the elements and a large field of seasoned challengers - all from the comfort of their home computers or on select 3G smartphones.

"Rally America appreciates the coverage that MediaSpigot has provided over the years through its print magazines, and we're really excited about the live updates they have planned for Round 5," said J.B. Niday, Managing Director for Rally America.

The first live broadcast from the event will commence at 9am EST on Friday, June 6, with additional live feeds and updates posted regularly throughout the day, including exclusive interviews from the service-park and tape-delayed stage action. Viewers can point their web browsers to http://www.drivingsports.com for more details, or text RALLY to 38714 to sign up for SMS alerts.

About MediaSpigot LLC

Based in Redmond, Wash., MediaSpigot is one of the fastest growing, privately held producers of automotive-enthusiast media in the United States. Its print titles include Subiesport Magazine, among others, available through major booksellers in the United States, Canada, Singapore and Hong Kong. Under the Driving Sports and Driving Sports TV brands, MediaSpigot produces enthusiast lifestyle events, television specials, web destinations and streaming video programming. For more information, visit http://www.mediaspigot.com.

About Rally America

Based in Golden Valley, Minn., Rally America sanctions the premier rally racing series in the United States, the Rally America National Championship Series. In 2008, Rally America will conduct nine National Championship events at venues across the country, from Pomeroy, Wash., to Bethel, Maine. Rally America competitors reach speeds well over 100mph in modified street cars on natural-terrain courses of gravel, dirt or snow. Additionally, through a partnership with ESPN, qualifying Rally America drivers will be invited to compete in the Summer X Games, the annual leading action-sport event that is broadcast live on ABC and ESPN. For more information, visit http://www.rally-america.com.

###

Aurora Biofuels Closes $20 Million Series B Funding

Alameda, CA (PRWEB) June 10, 2008

Aurora Biofuels, Inc., a leader in open-pond algae aquaculture technology, announced today it has completed a second round of funding, raising $ 20 million. The round was led by existing investor Oak Investment Partners. Previous Series A investors Gabriel Venture Partners and Noventi also participated in the round. Aurora Biofuels will use the funds to expand its field operations and to increase its efforts to optimize the production cycle of growing, harvesting and extracting microalgae to produce bio-oil, which can be converted into biofuels.

"We are ahead of our company growth and development plans and the new funds will allow us to accelerate our efforts in the field even further," said Matt Caspari, founder and CEO of Aurora Biofuels. "Obviously, there is a great need today to decrease dependence on foreign oil. We believe that algae are an exciting alternative to traditional agricultural sources of biofuels and we are committed to bringing algae-derived biofuels to fruition."

Microalgae have several advantages over traditional biofuel crops including their ability to produce much more bio-oil per acre, and their ability to be grown on marginal land using marginal water so they do not compete with food resources.

"Over the past eighteen months, Aurora Biofuels has made tremendous progress in developing an end-to-end process for producing bio crude oil from algae," said Brian Hinman, Venture Partner at Oak Investment Partners. "We're convinced that the economic model is viable, and believe that Aurora has a stable and productive aquaculture technology that works in low-cost open ponds. It's time to test the process at scale."

About Aurora Biofuels

Aurora Biofuels, Inc. was founded to develop the lowest cost solution for growing algae and producing bio-oil. To achieve this goal, Aurora has assembled a diverse team with the expertise spanning biology, biotechnology, aquaculture and agricultural, chemical and process engineering. Aurora Biofuels was founded in 2006 and has its headquarters in Alameda, CA. For more information, please visit http://www.aurorabiofuels.com.

About Oak Investment Partners

Oak Investment Partners is a multi-stage venture capital firm with a total of $ 8.4 billion in committed capital. The primary investment focus is on high growth opportunities in communications, information technology, internet new media, financial services, clean energy, healthcare services, and consumer retail. Over a 28-year history, Oak has achieved a strong track record as a stage-independent investor funding more than 435 companies at key points in their lifecycle.

About Gabriel Venture Partners

Gabriel Venture Partners