Advertising - Friday, January 25, 2008
Search Automation's SEMDirector Becomes Covario. Raises $16M
San Diego-based Covario (fka SEMDirector) announced at its annual event, INFLECTIONPoint that FTVentures has led a $16M Series B investment in the company, along with existing investors Dubilier & Company and Voyager Capital. It also changed its name to Cavario reflecting the fact that it is branching out beyond search engine marketing (SEM).
Covario's platform enables global brands to manage search advertising but other interactive media, including display advertising. Covario enables advertisers to understand the relative effectiveness of paid search advertising, natural search optimization, and interactive advertising in a single dashboard. Covario plans to broadening its focus to include performance management technologies beyond search advertising to additional forms of interactive media.
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