By Ty McMahan
10/1/2009
San Francisco — Delivery Agent Inc., which has doubled its revenue every year since its founding in 2002, is about to roll out what it believes will be its biggest revenue opportunity to date.
With a fresh $25 million Series D in the bank, the company, which offers digital catalogs for products seen on TV and in films, music videos and sporting events, plans to announce a partnership with a major cable operator for a rollout of its “click-to-buy” technology.
Consumers will be able to push a button on their remote controls to review and purchase items featured on television. The technology allows brands to get closer and more interactive with customers.
“This is pretty exciting for us,” Chief Executive Mike Fitzsimmons said. “The next phase is really about watching and having a quick opportunity to buy.”
The company’s recent round of funding included four new investors: Focus Ventures, which led the round; T-Venture; Coral Group; and Ironwood Capital. Existing investors Bessemer Venture Partners, Worldview Technology Partners and Cardinal Venture Capital also participated. The funding brings the total investment to date to $60 million.
Delivery Agent powers shopping-enabled entertainment for more than 125 major entertainment properties including ABC, NBC, CBS and Fox. The company currently runs 40 branded e-commerce sites for its customers. For example, by visiting www.seenon.com, fans of MTV’s “The Hills” can “get Kristin Cavallari’s bad girl look” from the most recent episode. The site provides links to Cavallari’s Missoni bikini and her Christian Louboutin two-tone platform slingback shoes.
In addition to applying the new funding to its technology expansion, Delivery Agent plans to fuel the company’s global growth, building its European client base and offering its U.S.-based clients opportunities to transact with audiences in international markets.
“In the headwinds of this market, we continue to outperform,” Fitzsimmons said. “We’re fascinated and excited about the full convergence story that’s been talked about for a decade.”
Fitzsimmons declined to provide specific revenue figures or a valuation, but said the company will be profitable in the second half of this year and expects to be entirely profitable in 2010.
