eVerger, the investment company backed by Aegis and Warburg Pincus, has invested $7m in a $9m second round of financing for Paramark, a developer of web-hosted services that drive online marketing campaigns through proprietary technology.
The services are known as PILOT (paramark interactive and learning optimisation technology). In September 2000, Paramark launched AdPilot which works with leading ad servers and is designed to optimise online advertising campaigns.
Andrew Burke, CEO of eVerger, said: “With its proprietary technology and the ability to optimise complex online advertising campaigns, we believe Paramark will rapidly become an essential tool for marketers.
Hitendra Wadhwa, Paramark’s co-founder and chief executive, said: “eVerger is the perfect partner for Paramark. We share a common vision of the potential for marketing to reach new levels of performance through digital media. eVerger’s team also brings deep operational and international experience, which will help us build relationships in the US and launch Paramark overseas.”
eVerger is a $100m joint venture between Aegis Group, a worldwide communications and media agency, and private equity firm Warburg Pincus. It provides funding and management advice to companies that develop technology and software to support marketers. Over the last six months eVerger has invested over $33m in ventures including: NewWorld Commerce, NetUsability, Dynamic Logic and iQ.com.