Moat Raises $12M Series B led by Mayfield Fund
NEW YORK, New York – April 23, 2012 – Moat Inc. (www.moat.com), a SaaS company focused on transforming brand advertising online, is announcing a $12 million Series B financing led by Silicon Valley’s Mayfield Fund, with continuing participation from existing investors. Mayfield’s Tim Chang will join the Board.
Moat’s products include:
- Moat Intelligence – Moat’s first intelligence product - the patent-pending Moat Ad Search – has become a very popular ad industry platform used by over 15,000 businesses including thousands of top brands, premium publishers, and ad agencies. The company will be rolling out a premium version of intelligence with enhanced data and insights.
- Moat Analytics – Moat has created a patent-pending analytics platform to enable brand advertisers and publishers to move beyond the “click” as the primary success metric for online ad campaigns. The platform provides actionable insights to advertisers and publishers and helps measure in real-time whether consumers are paying attention and engaging with ads. Moat Analytics has already measured billions of impressions for top advertisers and publishers.
Moat will use the funds to expand their team with a continued focus on building innovative products.
“We are trying to re-imagine brand advertising in digital and solve important problems that will have a big impact on the online ecosystem. We are excited about accelerating the growth of the Company with this new investment. Mayfield is the perfect partner for us - they share our vision, have deep expertise in building successful SaaS companies, and have already added significant value.” said Jonah Goodhart, CEO and Co-Founder of Moat.
Adds Co-Founder Noah Goodhart, “we have a very talented team and innovative culture at Moat. We are laser focused on building products that are as easy-to-use as popular consumer services, yet have the power of business applications. We think this is just the beginning.”
“Mayfield is thrilled to be partnering with the Moat team to build the leading brand intelligence and analytics SaaS company for the advertising industry. Unlike typical adtech startups that are ad networks, arbitrage plays or tech layer abstractions, Moat is uniquely positioned as a SaaS category leader in the space, and has the broader potential to evolve the whole industry beyond the obsolete and incomplete metric of 'clicks' -- this is a much bigger prize at stake here that we're playing for,” said Tim Chang.
Moat previously raised $4.5M, including a $1.5M round led by Ron Conway’s SV Angel.
Moat is a New York-based SaaS company focused on building products for brand advertisers and premium publishers. The company was founded by Jonah Goodhart, Noah Goodhart, and Michael Walrath. The serial entrepreneurs had previously partnered together to launch Right Media, which was acquired by Yahoo! in 2007. For more information on Moat, visit www.moat.com.
About Mayfield Fund
Mayfield Fund is a global venture capital firm with $2.7 billion under management and a history of investing in relationships. Mayfield invests primarily in early-stage companies that leverage the drivers of mobile, cloud/Saas, social, energy and big data. The firm is currently deploying Mayfield XIII, a $400 million fund that invests in U.S. and cross-border companies. Mayfield invests in India-based companies through its Mayfield India fund and in China-based companies directly and with its partner GSR Ventures. Over its 43-year history, the firm has invested in more than 530 companies, resulting in over 100 IPOs and more than 100 mergers or acquisitions. For more information, visit www.mayfield.com.