June 1, 2011, New York, NY. PerformLine, Inc., the leading developer of technologies for online compliance monitoring, announced today that it has closed a successful Series A funding round led by Outcome Capital of Reston, Virginia. Jonathan Wallace from Outcome Capital will be joining the Board. Also participating in the round are First Round Capital and several leading angel investors including Jerry Neumann, Stuart Larkins, David Willey, and George Rich. The funds are being used to add several key hires, strengthen the company’s sales and marketing efforts, and increase the company’s infrastructure to accelerate product development.
The company immediately announced the strategic hires of three key personnel:
“This funding will play a key role in helping us accelerate and support growth,” stated Alex Baydin, CEO and Founder for PerformLine. “The hires we’ve made are a testament to the direction and momentum of our business. They, along with the addition of Jonathan Wallace to our Board, bring an immense amount of experience in operational, technical and financial areas to the table which will prove invaluable.”
“We were very impressed with the early traction the PerformLine team has proven thus far, with their PerformMatch™ compliance monitoring product and services,” said Jonathan Wallace, co-founder and Partner, Outcome Capital Group, LLC, and Board member, PerformLine. “Because of regulatory concerns, there is tremendous potential in the higher education market for online compliance monitoring platforms. We are extremely excited about PerformLine’s long-term ability to scale their platform across more verticals where compliance with industry regulations will also be key.”
About PerformLine, Inc.
PerformLine, Inc. is an online marketing and technology company focused on delivering compliance monitoring and campaign verification products and services for Advertisers, Agencies, Publishers and Ad Networks. The demand for transparency, brand protection and independent verification resulted in PerformMatch™ the broadest-reaching compliance monitoring platform in-market, offering Display, Email and Lead Generation verification all in one place. PerformLine, Inc. was founded in 2007 in New York, NY.
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