Advertising - Tuesday, November 20, 2007
Leads Firm DoublePositive Raises $4M
Baltimore's DoublePositive Marketing Group has closed a $4M funding round. The firm hangs its hat on a double confirm lead process, which delivers what it says are live interested consumers who have the highest probability of converting into a sale. The goal of DoublePositive is to evolve online marketing to "CPT" (cost-per-transfer). Its lead focus has been on mortgage leads, debt settlement leads, education leads, insurance leads, automotive leads and real estate leads.
DoublePositive is led by Sean Fenlon who was co-owner of TheLoanPage.com, an Internet mortgage lead company similar to Lending Tree. Fenlon says they grew that business to over $10M in sales and over $3M EBIDTA before the company was sold to Battery Ventures and then re-sold to HouseValues.com.
New institutional investors in DoublePositive participating in the round include Hamilton Investment Partners, Southern Capitol Ventures and Slate Venture Group. Frank Bonsal, co-founder of New Enterprise Associates and Dave Willey, former CFO of Capital One, also participated in the round.
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