Monday, December 22, 2008

Jazd Markets lands $8M in first funding round

By Mass High Tech staff

On-line B2B marketing firm Jazd Markets Inc. reports it has closed on $8 million in a Series A funding round that was jointly led by Commonwealth Capital Ventures and Pilot House Ventures.

According to company officials, Andover-based Jazd will use the funds for faster development of its directory marketing platform and to expand relationships with B2B trade publishers. The company uses Web 2.0 technology to provide directory publishers with branded directory products, and labels its technology as “MaaS” or Marketing as a Service.

Among the various on-line B2B markets brands Jazd has are www.jazdchemicals.com, www.jazdenergy.com, and www.jazdoilandgas.com, the company says.

Jazd Markets was founded in April by James Bedard, who was president and CEO of Boston’s Aberdeen Group Inc. prior to its 2006 acquisition by Harte-Hanks Inc. of Texas. Commonwealth Capital was also an investor in Aberdeen Group.