DoublePositive adds $4M round to live sales lead business

November 20th, 2007

BALTIMORE, MD—DoublePositive Marketing Group, which sells live hot transfer leads to sales organizations, has closed on $4 million in venture backing with Hamilton Investment Partners and Southern Capitol Ventures and Slate Venture Group as new investors.

Frank Bonsal, co-founder of New Enterprise Associates (NEA) and former General Partner at Alex Brown, and Dave Willey, former Chief Financial Officer of Capital One, also participated in the round as individual investors.

Double Positive raised a $1.35 million first round led by WWC Capital in Reston, VA with participation from the founders of Advertising.com. In July last year it landed a $2.7 million led by the Grosvenor Fund.

“We believe DoublePositive will continue to be the leader in the live lead generation space, and we see tremendous opportunities for DoublePositive to diversify into new Internet lead-buying markets,” said Marc A. Cole, Partner at Hamilton Investment Partners. “We think DoublePositive is positioned very well to build on the great success they’ve had and capitalize on the tremendous opportunities that exist in industries such as education, insurance, and consumer debt/credit.”

“This fundraising will help solidify our position as the leading live lead generation company by allowing us to focus on diversification into new markets,” said Sean Fenlon, DoublePositive’s co-founder and CEO. “We’re absolutely thrilled about what our new investors will bring to the table with their experience and knowledge in building strong companies with dominant position.”