Digital Envoy raises $10.5 million

Digital Envoy announced a $10.5 million first round of funding that included investments from Siemens Venture Capital, AOL Time Warner Ventures and H&Q Asia Pacific. Atlanta-based Digital Envoy announced several weeks ago that it had raised its first round of funding from Frontier Capital, Cordova Ventures and CrossBow Ventures. The company was not able to name its strategic partners, since the money was not in hand, said co-founder Sanjay Parekh. Digital Envoy's software is designed to enable companies to gather geographic information about customers and their connection speeds. A company can then automatically send targeted ads to those customers connected to the Internet from a specific city and provide appropriate graphics and information based on the connection speed being used. See complete list.