Start-up Marin raises $7.25 million to promote search ad software
Marin Software plans to use the money to boost its sales and marketing efforts. Venture capitalist Benchmark Capital leads the second round of funding.
Marin Software, which makes a browser tool for managing paid search advertising campaigns across Google and other search sites, has brought in $7.25 million in a second round of funding led by Benchmark Capital, according to the company.
Bruce Dunlevie, a general partner at Benchmark, will join the board of the San Francisco-based company. Marin Software plans to use the money to boost its sales and marketing efforts.
Since its founding in 2006, Marin Software has raised just more than $12 million. In its first round in October 2006, it brought in $2.5 million from Amicus Capital, as well as some private investors. Amicus invested another $2.5 million the following year.
Christopher Lien, Marin's CEO and co-founder, said that the company plans to use the latest funds to get to break even by the end of the year. And the money could come in handy in a financial downturn, even though the paid search market is growing. "One needs to plan for rainy days," Lien said.
Marin Software sells its software to advertisers and agencies that spend more than $50,000 a month on paid-search ads. Its clients include Razorfish, Zip Realty, and Zappos.