• December 16, 2008

BlueKai, creator of an online intent data exchange, on Monday announced that the company has closed its Series B round of financing worth $10.5 million. Battery Ventures led the round, and Redpoint Ventures participated as a second-round investor.

The financing is expected be used to expand client support services and to further develop new product functionalities for the BlueKai Exchange and the BlueKai Registry. In addition, Satya Patel, principal of Battery Ventures, is joining the BlueKai board of directors, bringing more than a decade of online media experience with previous product management roles at Google and DoubleClick.

BlueKai partners with data sellers to aggregate anonymous shopping and research behaviors across the Internet. The data is then auctioned to drive monetization in a privacy-friendly way, while enabling buyers to boost the quality and scale of online ad-targeting campaigns.--Gavin O'Malley