Tuesday, December 16, 2008

Battery Ventures leads BlueKai’s $10.5M second funding round

By Galen Moore

Battery Ventures is leading a $10.5 million Series B investment in BlueKai Inc., the Seattle-based startup reports. Battery joined existing investor Redpoint Ventures, who returned to participate in the B round.

Battery Ventures principal Satya Patel will join the BlueKai board of directors, according to the company.

Financing will be used to expand client support services and to develop new functionalities in the company’s products. BlueKai provides an online exchange that aggregates data from publishers with in-market audiences and makes it available to marketers. Consumers may register to manage the information that marketers know about them.

The second round of funding brought BlueKai’s total investment to $13.7 million. Red Point was the lead investor in a $3.2 million Series A round that launched the company in September.

Several unnamed individual investors also participated in the A round, a BlueKai spokeswoman said.

Battery Ventures is a Waltham-based venture capital and private equity firm with offices in California, India and Israel.