Facebook Marketing Platform Buddy Media Raises USD 23 Million

Posted by Bart on October 20, 2010

Buddy Media is a US company founded in September 2007 and specialized in Advertising on Facebook. They offer their own platform to set-up and manage Facebook pages and branding campaigns.

During an event at their new Manhattan offices on October 19th, 2010, Buddy Media CEO Michael Lazerow announced that the company has raised $23 million in Series C funding led by Institutional Venture Partners. As noted in the announcement, the new capital will be used to triple Buddy Media’s employee headcount to 300 in the next 18 months, as well as fund other marketing and growth initiatives. He also announced some significant company milestones:

- Buddy Media now employs more than 100 people in their 25,000 square foot offices in mid-town Manhattan
- More than 300 companies and agencies license the Buddy Media Platform, up from less than 100 earlier this year
- 7 of the top 10 largest global advertisers have selected the Buddy Media Platform as their preferred Facebook management system
- New customers signed in Q3 2010 include Johnson & Johnson, Crate & Barrel, Ford Motor Company, Donna Karan, Armani Exchange & GNC
- The company has grown software licensing revenue by approximately fifteen percent (15%) month-over-month in 2010

Read more at TechCrunch and Business Insider.