[x+1] Adds Another $10m

In the US, predictive marketing solutions firm [x+1] has secured a $10m loan to fund future growth strategy and initiatives.

New York City-headquartered [x+1] was founded in 1999 to develop statistical modeling technology to manage traditional direct marketing techniques online.

Its patented technology identifies high-value customers and prospects and serves them relevant messaging across the digital marketing spectrum.

The firm has recently rolled out Smart Tagging, a new audience targeting platform; and increased sales of its Media+1 and Site+1 solutions for optimizing digital media and web sites respectively.

Last August, [x+1] secured $2m in a second round of funding, adding to the $16m it raised in 2008.

Chairman and CEO John Nardone says that this increased line of credit from technology sector investor Silicon Valley Bank (SVB), will provide the working capital required to identify and pursue new market opportunities and develop 'innovative solutions that deliver measurable returns'.

'Our ability to secure this increased line of credit from SVB in a challenging debt market demonstrates its confidence in our business model, performance, strong market position and growth path to date,' Nardone added.

Web site: www.xplusone.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

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