Sportgenic Inc., a digital media company that helps marketers hook up with sports enthusiasts, on Monday said it has closed a $10 million Series B financing round led by Adams Street Partners. Previous investors Alsop Louie Partners, KPG Ventures and Greycroft Partners also participated. The company said it will use the new funding to invest in its ad network technology and expand its sales force.
Formerly called Active Athlete, Sportgenic launched in 2005 and received an undisclosed amount of Series A funding in 2007. Its network includes more than 350 sports Web sites that are focused on avid participants from endurance athletes, outdoor sports enthusiasts, fitness buffs and those who play on sports teams. Its advertisers include AT&T Inc. [T], Mountain Dew, Nike Inc. [NKE], Saab and Toyota Motor Corp. [TM]. -- David Shabelman
See Sept. 8 press release from Sportgenic
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