The Mail Room Fund Delivers Its First Investment
Posted on: Thursday, 15 May 2008, 09:00 CDT
LOS ANGELES, May 15 /PRNewswire/ -- The Mail Room Fund, a seed level investment consortium formed by Accel, Venrock and the William Morris Agency in March 2008 announced today that it has completed its first investment. The Mail Room Fund led the seed round for Los Angeles-based Sometrics; AT&T and Greycroft Partners have also co-invested along with The Mail Room Fund in this first investment.
Sometrics, founded in October 2007, is a fast-emerging leader in analytics tracking and measurement for publishers and developers of applications and services deployed on social networks such as Facebook, MySpace, Bebo and others. The traffic, demographic and conversion details provided by Sometrics allow developers to better understand their customers and make design tweaks geared towards increasing traffic and, therefore, advertising revenue. While still in Beta, Sometrics has over 500 developers using its analytics tools across multiple social networks.
"Led by an impressive group of founders, Sometrics has already achieved significant success," said Richard Wolpert, managing director of The Mail Room Fund. "The Los Angeles area is fertile ground for startup companies and we are proud to play a role in helping grow and mature this market."
"Understanding your audience is core to a company's success, but not easily achieved," said Ian Swanson, CEO and Co-founder of Sometrics. "After less than a year, we have already seen impressive results from our beta testers and continue to grow at a rapid pace. We look forward to working with The Mail Room Fund and Greycroft, leveraging their extensive expertise and collective network to further our business."
With the initial seed investment, Sometrics will add Richard Wolpert as its newest board member.
About The Mail Room Fund
The Mail Room Fund is a Los Angeles based Fund focusing on early stage investments in local Internet, technology, and new media initiatives. The partners of the Mail Room Fund include Accel, Venrock and the William Morris Agency. The Mail Room Fund is based in Santa Monica California.
About Sometrics
Sometrics is the first analytics company to focus on social networking platforms. The company's analytics platform provides detailed insights to help developers better understand and monetize their social media. The Sometrics solution works on top of social platforms like Facebook, MySpace, and Bebo to provide detailed analytics on millions of daily users. Founded in 2007 by Matt Gray, Joseph Hsieh, and Ian Swanson, its diverse and talented team is headquartered in downtown Los Angeles, California. For more information, see http://sometrics.com/
The Mail Room Fund
CONTACT: Evan Solomon, +1-415-683-1179, evan@sutherlandgold.com, for TheMail Room Fund; or Meghan Roman of Horn Group, Inc., +1-619-501-5256,mroman@horngroup.com, for Venrock
Web site: http://sometrics.com/
Source: PRNewswire
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