TechTarget Ropes in a Whopping $70 Million in Venture Financing

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Targeted tech media company TechTarget, based out of Needham, MA, has garnered a whopping $70 million in second round of venture financing…that makes it the biggest digital media venture funding over the last year, as tracked by my Digital Media Deals report…

The investors were Technology Crossover Ventures and Polaris Venture Partners, the firm that led TechTarget’s $30 million first funding round in March 2001.

TechTarget will use the money to continue its growth, fund additional acquisitions, and expand its international presence. Since its launch in September 1999, TechTarget has grown from four sites targeting specific sectors of the IT marketplace to a full network of 21 targeted sites, a conference division, and a magazine publishing division.

In May, TechTarget acquired the myITforum.com web site from Altiris. Last month, TechTarget expanded its media properties beyond North America with the announcement of the launch of TechTarget China.

Since 2000, TechTarget has increased its revenues more than sevenfold and grown its customer base from 400 advertisers to 1,500, according to the statement. The company achieved profitability in Q2 2002.

Related:

TechTarget Acquires myITforum.com

TechTarget’s E-Newsletters Go Controlled

TechTarget Announces First-Quarter Revenue Growth of 51 Percent

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