AffinityClick, Inc. has closed a successful round of financing, totaling nearly one million dollars. This investment will allow the online advertising developer to grow its software development operations as it expands its network of publishers and advertisers.
“AffinityClick has delivered a great product and is well-positioned to capitalize on the $60 Billion spent annually on online advertising,” said Michael Crowley, President of Cassandra Capital, one of the investors in the recent funding round. Investment Quebec and Development Economic Canada contributed a portion of the funding. AffinityClick raised $200,000 in seed funding in June 2009, bringing total funding to $1.1 Million.
“We have successfully attracted thousands of publishers to AffinityClick with a better online advertising platform,” says Justin Shimoon, CEO and co-founder of AffinityClick. “This funding will help us accelerate our development efforts, strengthen our product, and deliver it to even more users.”
The Ottawa-based company's aim is to make it easy for bloggers to "generate revenue from their content with context-sensitive advertisements featuring over 25 Million products from 5,000 online retailers." The process is relatively simple: bloggers complete an online sign-up form and add a snippet of code to their blog. Then AffinityClick uses a proprietary algorithm to automatically match blog content with contextually relevant product placements from retailers. In turn, bloggers are paid when blog readers click on suggested product advertisements. There are also customizable filters which allow bloggers worldwide define what type of products, brands, and retailers appear on their blog.