Seattle-based Widemile, which helps companies get more out of their online ad spending by optimizing their web sites, has raised $4 million in convertible debt from a range of investors, inside and outside of the company. A particular focus of the company is in improving the performance of paid search campaigns by getting higher conversion rates from users clicking onto the site. Customers include Microsoft (NSDQ: MSFT), The Weather Channel Interactive and SmartSheet.com.
John Cook at Seattle PI has more on the company, noting that it raised $5.5 million in 2005 and that it plans to do a larger round next year. Release.
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