Brand Affinity Raises $20M, Expands Celeb Roster
The Series C round of financing was led by Miramar Venture Partners, along with participation from existing investors, including Newport Coast Investments, RimLight Capital, Fulcrum Venture Capital and ad pepper media International.
Founded in 2007, BAT tracks a network of nearly 40,000 pro athletes, more that 3,600 of whom it has partnered with advertisers for less than your typical celebrity endorser.
As a result, BAT is on track to double its revenues to $30 million this year, while expanding its celebrity endorsement roster by 177%, according to Ryan Steelberg, the company's president and CEO.
"This financing will provide the growth capital required to continue to expand and refine our ... service offerings," says Steelberg. "The power of celebrity is universal."
Clients include AT&T, Ford, Comcast, Intuit, Samsung and Web-based ticket seller StubHub, which works with BAT to run display ads for local events.
According to BAT, campaigns with pro athlete endorsements deliver 13.5 times average conversion rates and 3.5 times average click-through rates.
Separately, a study conducted last year by Insight Express found that celebrity endorsements have remained relevant in an increasingly digital world.
Indeed, when banner ads featuring video and still images of pro athletes were tested against the same ads with no endorsement, the study found a 180% increase in unaided brand awareness. It also found a 56% improvement in message association, where participants correctly absorbed the attributes of tested products and services.
In addition, the study found a 39% improvement in brand favorability and a 27% increase in purchase intent.
Recent Online Media Daily Articles
-
Court Dismisses Defamation Suit Against WPP's Sorrell May 24, 3:31 p.m.
A New York Court has dismissed a defamation lawsuit brought against WPP CEO Sir Martin Sorrell.Sorrell ... -
Tween Girls Susceptible To Mobile Advertising May 24, 3:23 p.m.
What’s less surprising? New research showing that female tweens are highly susceptible to mobile advertising, or ... -
Yahoo Search Experiments With New Look May 23, 6:30 p.m.
Yahoo Search has been experimenting with colors, features and layouts, as the company tries to determine ... -
Path Seeks Dismissal Of Wireless-Spam Case May 23, 5:07 p.m.
Mobile social network Path is asking a federal judge to dismiss a lawsuit alleging that the ... -
Amazon Appstore Goes Global May 23, 4:59 p.m.
Amazon may have been late to the app store game, but that hasn’t stopped it from ... -
Data Is Springboard For Product Development May 23, 4:44 p.m.
iProspect named Ben Wood to global president Thursday; he's tasked with growing the company's network and ... -
Vice, Twitter Partner For Mobile Show May 23, 2:14 p.m.
Simultaneously expanding its video and social strategy, Vice on Thursday unveiled #dailyvice -- a daily show ... -
MediaVest Database Charts Brand Experience, Social Media Impact May 23, 12:11 p.m.
After a year-long research effort, Publicis Groupe’s MediaVest has created a massive database designed to help ... -
Discovery Launches TestTube.com, Ups Digital Video Involvement May 23, 11:27 a.m.
Discovery Communications is looking to get into digital video platforms in a big way -- launching ... -
Network Advertising Initiative Proposes New Mobile Privacy Rules May 22, 9:03 p.m.
Moving forward with its plan to issue mobile privacy rules, the self-regulatory group Network Advertising Initiative ...
Be the first to comment on "Brand Affinity Raises $20M, Expands Celeb Roster"
Leave a Comment