Delivery Agent Secures $5.5 Million in Series A Funding to Meet Explosive Demand of Fast-Evolving Entertainment Revenue Model

Delivery Agent Secures $5.5 Million in Series A Funding to Meet Explosive Demand of Fast-Evolving Entertainment Revenue Model

Worldview Technology Partners and Cardinal Venture Capital Back Interactive Commerce Enabler

SAN FRANCISCO, March 24 /PRNewswire/ -- Delivery Agent, Inc., the leading interactive commerce provider for the entertainment industry, today announced that it has closed on $5.5 million in Series A funding through Worldview Technology Partners and Cardinal Venture Capital. Proceeds from the financing will be used to expand Delivery Agent's market leadership position as the only company with a targeted solution that enables viewers to connect with, and immediately purchase, products seen in entertainment content. The company's patent pending platform has become the industry standard, currently adopted by major entertainment companies and consumer brands seeking to enter this new revenue stream.

A recent Forbes Magazine article on Delivery Agent's business referred to Delivery Agent as enabling; "The Ultimate Product Placement: getting it into the hands of an impulsive television viewer." Positioned and promoted properly, the new revenue streams that Delivery Agent is opening up for content-owners, content distributors and marketers can result in astounding success.

To date, Delivery Agent has proven the capabilities of its solution by launching programs for many brands and leading motion picture studios including Miramax Films, Sony Pictures Home Entertainment, Dimension Films and Lions Gate Entertainment. Additionally, the company has commerce agreements with top TV and Cable networks including NBC, ABC, Bravo, SOAPNet and GSN, representing over 45 properties including such highly rated shows as "Will & Grace," "Queer Eye for the Straight Guy," "Project Runway," "Passions" and "Las Vegas" among many others.

Founded three years ago, Delivery Agent has become indispensable to content owners and consumer brands since a key aspect of its patent-pending Just Seen On (TM) technology allows production companies to digitally catalog product information at the production level, saving vast amounts of time and energy. Through Delivery Agent's proprietary video indexing process, any product can be located at any time in any scene. At the consumer level, the Just Seen On platform enables viewers to search for and purchase products that they see on screen via virtually any interactive and/or digital platform, including their pc, wireless handheld device, interactive TV remote or telephone.

"Delivery Agent has risen to the top of this nascent industry by making intelligent deals with top content owners. They continue to gain momentum by providing the software and services that enable brands and entertainment companies to fully leverage the demand created when a product appears in an entertainment property." said Pete Goettner, at Worldview Technology Partners. "This is the only solution we saw that adequately addresses the major shifts in television advertising created by PVRs and ad skipping - these guys TiVo-proof content," he said.

Mike Fitzsimmons, Delivery Agent's CEO noted that the funds would be targeted toward accelerating and expanding its leading position in the industry. "In the past three years, Delivery Agent has developed strong working relationships with leaders in the entertainment industry and top national brands. We clearly understand the needs of all constituents in this complex, rapidly evolving business and have developed and patented the only platform that is targeted and flexible enough to drive their business objectives."

Chris Hadsell, of Cardinal Ventures added, "Delivery Agent lies at the heart of three very dynamic large markets: Television and movie product placement, online advertising, and interactive commerce. With e-commerce estimated at $55 billion last year and yet representing only 1.6% of overall retail sales, Delivery Agent and its customers are well positioned to take advantage of today's tectonic shifts in advertising and the expected more than doubling of e-commerce sales to $120 billion this year."

About Worldview Technology Partners

Worldview Technology Partners, headquartered in Palo Alto, has a 12-year track record of successful investing in technology companies, particularly in Information Technology. Now on its fourth fund, Worldview has nearly $1.4 billion under management. Its partners' investments have led to 25 IPOs and more than 10 successful acquisitions. Former portfolio companies include AFC, Catena, Ciena, Corvis, Cyras, CoSine, IntruVert, MMC Networks, NVIDA, Redstone, Silicon Spice, Tellium, and WFI. Current portfolio companies include 3PAR, Azul, Cogent, Force10, Infinera, Laurel, Movaz, Stretch and Tensilica. Additional information is available at http://www.worldview.com/ .

About Cardinal Venture Capital

Cardinal Venture Capital invests in early stage information technology companies, including enterprise software and services, Internet infrastructure software, wireless applications, electronic payments and digital media. Cardinal's investing team helps build successful technology-based businesses by applying their extensive experience as entrepreneurs and operating managers. Cardinal Venture Capital is based in Menlo Park, California. http://www.cardinalvc.com/ .

About Delivery Agent

Delivery Agent, Inc., (http://www.deliveryagent.com/) is the leader in shopping enabled programming and measurement for television shows, movies, sports, and music videos. Delivery Agent created the market for shopping enabled programming by redefining how products Just Seen On(TM), or related to entertainment content are cataloged, sold and measured. Since early 2002, through its patent pending suite of Just Seen On technology applications, and proprietary analytics system, Delivery Agent has been facilitating and measuring revenue-generating connections between viewers and products.

Source: Delivery Agent, Inc.

CONTACT: Stu Ginsburg of FAVA Public Relations, +1-917-554-0724, or
stu@fava.org, for Delivery Agent

Web site: http://www.deliveryagent.com/
http://www.cardinalvc.com/
http://www.worldview.com/

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