Precision Health Media Raises $1 Million in Additional Funding as Condition Match(TM) Ad Targeting Technology Gains Momentum
NEW YORK, March 1, 2012 /PRNewswire/ — With its Condition Match(TM) contextual advertising technology continuing to grow rapidly, Precision Health Media, the leading source for diagnosed health audiences (50 million unique visitors monthly, comScore), has raised an additional $1 million in venture capital and named Matthew Fink from Johnson & Johnson as its first Vice President-Marketing.
The new funding was received from Cava Capital and the Conyers Group, with participation from previous investors Metamorphic Ventures, and angels including Geoff Judge, partner in iNovia Capital; David Arcara; Jamie Driver; and Richard Forman of Health Venture Group.
Fink joins PHM from J&J, where he was most recently Integrated Marketing Manager. While at J&J, he worked across some of the company’s largest brands, including Johnson’s Baby®, Rogaine® and K-Y®, in a variety of marketing strategy and product development roles, helping to drive growth through innovative platforms and programs. Most recently, his work included developing partnerships for J&J brands with top media and technology companies including Facebook, Google and AOL/Huffington Post.
Precision Health Media’s Condition Match(TM) uses semantic analysis to identify the most effective contextual pages for “diagnosed audiences” from hundreds of top health sites, and then optimizes ad campaigns continuously for best performance.
“The vote of confidence we’ve just received from Cava Capital, plus additional funding from earlier investors, shows we’ve been on the right track with the technology aimed at identifying the most relevant sites at the page level,” said Precision Health’s CEO Bill Jennings. “The funding will enable us to rapidly expand our sales team and devote additional resources to further technology development.”
“Precision Health Media has increasingly shown that the verticalization of traditional ad networks is well underway,” added Geoff Schneider, Managing Director at Cava Capital. “PHM’s intense focus and success in the ever-changing health, wellness and disease care industries positions the company for explosive growth. Bill has assembled a fantastic team and we are proud to be a part of their success.”
As the newest member of that team, “Matthew Fink will focus on communicating the advantages of the Condition Match(TM) semantic technology to our clients,” Jennings said. “Pharma brands have used the same major health portals for years. PHM can deliver a greater level of targeting across hundreds of top sites based on each brand’s specific health condition goals.”
“As major ‘blockbuster’ pharma brands go off-patent,” Fink explained, “Precision Health Media is ideally positioned to meet pharma’s needs in reaching niche audiences. I’ve been greatly impressed by how the Condition Match(TM) technology process ensures that a brand’s ad dollars appear on the most relevant pages for maximum impact.”
About Precision Health Media
Precision Health Media (formerly Good Health Media) delivers specific health condition audiences to pharma and consumer brands. The Company is backed by Metamorphic Ventures and several individual investors including Mike Perlis (CEO Forbes), Rick Thompson/Larry Braitman (Founders Adify, Flycast), Joe Apprendi (Founder Collective), Richard Forman (Health Venture Group), Geoff Judge (Partner iNovia), Bill Benedict (Alpine Meridian), Chris Young (Founder Digital Broadcasting Group). Condition Match is a trademark of Precision Health Media. For more information, visit http://www.precisionhealthmedia.com or contact Bill Jennings at Bill@precisionhealthmedia.com.
SOURCE Precision Health Media