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KickApps Secures Series B Funding to Extend Leadership in Hosted Social Media Platform Market

Posted on: Tuesday, 14 August 2007, 09:20 CDT

KickApps Corporation, the leading hosted social media platform, today announced that the Company has secured $11 million in Series B funding. The round was led by SoftBank Capital, with participation from existing investors Spark Capital, Prism VentureWorks and Jarl Mohn, former CEO of Liberty Digital, Inc. Concurrent with the investment, Jordan Levy, partner from SoftBank Capital's New York office, has joined KickApps' Board of Directors.

This latest funding round, which brings the total funding secured to date to $18 million, will be used to accelerate worldwide adoption of the KickApps platform, particularly in the Web developer community and the media and entertainment industries. KickApps will also invest in R&D and developer advocacy programs to ensure the Company continues to innovate and maintain exceptional levels of service while scaling to meet growing demand. Interest from large global media and entertainment brands and independent publishers in the KickApps hosted social media platform has risen sharply as companies realize the value in growing and sustaining engagement with consumers.

"It's exciting how quickly the market is embracing social media. It has changed the way publishers and brands interact with their customers and audiences," said Jordan Levy, partner at SoftBank. "The winners will be consumers, brands that understand the value of social media and can execute effectively, and technology providers that deliver true value to businesses and consumers. We chose to invest in KickApps because it not only has a mature product offering and established user base, but it also truly understands the new rules and economics of this dynamic category."

"Since launching version 2.0 of the platform this year, thousands of professional Web developers, independent publishers and media and entertainment companies have used KickApps to obtain deeper engagement with their users", said Santo Politi, founder and general partner at Spark Capital. "We are more excited than ever by the prospects for the business and are extremely enthusiastic about the company's tremendous leadership, unique IP and ability to execute on its vision."

"KickApps-powered web sites demonstrate the real impact that social media can have on audience growth, customer relationships and revenue," said Alex Blum, CEO of KickApps Corporation. "We're at a pivotal and exciting time given the trajectory our business is taking and are fortunate to be working with such a stellar team of strategic investment partners who help extend our value to the masses. Adding Jordan to KickApps' board is a perfect complement to our dynamic and engaged leadership team."

KickApps 2007 Milestones -- January to June

-- Exponential growth through KickApps affiliates

-- Videos delivered grew by 11,850 percent

-- Photos delivered grew by 1,580 percent

-- Audio files delivered grew by 1,473 percent

-- Deployed by global media and entertainment brands, including BET Networks, Scripps Network Interactive, HBO-Cinemax, VIBE Magazine, Autobytel and RCA

-- Expanded executive leadership team with key appointments:

-- Alex Blum, CEO

-- David George, EVP of business development and client services

-- Mike Sommers, SVP of products

-- Michael Chin, SVP of marketing

-- Deepened strategic relationship with leading content delivery network, Akamai Technologies, Inc., to ensure the highest grade of media availability across KickApps affiliates

-- Partnered with interactive agencies of all sizes to deliver social media platform for experiences on their client websites, including Arnold Worldwide, Draft FCB, eROI, Code & Theory, Media Sauce and Pod Design

About KickApps Corporation

Based in New York City, KickApps Corporation enables any web site to quickly and easily add advanced social media functionality to increase audience growth, deepen consumer relationships and create new revenue opportunities. The company's enterprise-grade, highly customizable hosted platform is becoming the preferred social media solution for publishers, web developers and consumers. KickApps is currently used by thousands of large global media and entertainment brands and independent publishers, including Scripps Network Interactive, VIBE Magazine, HBO, Cinemax, BET Networks, Kraft Foods, P&G and the Arena Football League. For more information, visit www.kickapps.com.

About SoftBank Capital

SoftBank Capital is an independent venture capital firm focused on high-growth, technology-based businesses benefiting from the rapid deployment and adoption of broadband and mobile technologies. Through its current fund, SoftBank Capital Technology Fund III L.P., the firm has invested to date in 22 companies including Anystream, Associated Content, Beliefnet, The Huffington Post, The NewsMarket, Sermo, Thumbplay, and Voxant. For more about SoftBank Capital see www.softbank.com.

About Spark Capital

Spark Capital is a venture capital fund focused on building businesses that transform the distribution, management and monetization of media and content. Spark's General Partners are successful natives of the media and technology industries and have proven track records identifying and actively building market-leading companies in sectors including infrastructure (Qtera, RiverDelta, Aether Systems, Broadbus and BigBand), networks (College Sports Television, TVONE and XCOM) and services (Akamai and the Platform). With a deep network that spans technology and media, investing and operations, Spark Capital provides world-class entrepreneurs and revolutionary companies with the resources to succeed in today's marketplace. Spark Capital has $622 million under management, and is based on Boston, Mass. To learn more, visit www.sparkcapital.com.

About Prism VentureWorks

Founded in 1996, Prism VentureWorks (Westwood, MA, Santa Monica, CA) is a venture capital firm built by experienced entrepreneurs in technology and life sciences. With approximately $1.25 billion in capital under management across five funds, Prism's primary goal is to deliver superior value to its investors. Its partners have served as the founders, CEOs and senior executives of numerous venture-backed companies. By leveraging its network of seasoned entrepreneurs, skilled executives and long-time industry contacts, Prism identifies and works closely with companies with the potential to be market leaders. For more information, visit www.prismventure.com

Source: Business Wire

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