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Cambridge-based marketing company ChoiceStream Inc. has taken in $8.7 million of a new funding round that is planned to top out at $12.25 million, federal documents show.
ChoiceStream has drawn together 15 investors in the round, according to the filing with the U.S. Securities and Exchange Commission, participating in a combined equities and options or warrants financing. None of the 15 backers were identified in the filing, but investors in the company have included Sutter Hill Ventures of Palo Alto, Calif., and General Catalyst Partners and Sage Hill Partners, both of Cambridge. Listed as a related person in the new filing is board member Greg Sands, who joined the board from Sutter Hill when it led a $13.1 million round in 2006.
The software ChoiceStream provides is designed to identify patterns that will predict what a user is likely to buy or click on next, based on the online and offline ad campaigns from its clients, and help them optimize the effectiveness of those ads. ChoiceStream was founded in 2000 by CEO Steve Johnson.
In June, ChoiceStream named Eric Bosco as its new chief operating officer, according to its website. Bosco came to ChoiceStream from his role as chief product officer at marketing data and services company comScore. Before working at comScore, he held a number of different roles at AOL.
The new funding brings the total investment in ChoiceStream to approximately $61 million over five rounds. A message left with ChoiceStream was not immediately returned.
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