By: E&P Staff Creative Circle Advertising Solutions Inc., Providence, R.I., has raised another round of financing from existing investors. As part of the investment, Web entrepreneur, previous investor and board member Bill Daugherty was named chairman and will be active role in the 5-year-old company.
"We needed to be ready for the growth ahead and not wait for sales to drive that growth. We didn't want to miss out on opportunities," CCAS founder and CEO Bill Ostendorf said in a statement.
"I'm a strong believer in local content," Daugherty said in the same announcement. "In every community, someone will win the battle for local content on the Web, and Creative Circle's products are well positioned to power those sites."
Creative Circle has created Web software enabling media companies to make sites more flexible and interactive, and it provides revenue tools for classified ads and directories. Creative Circle also created solutions for calendars, charitable contributions, press releases, tourism, sports and schools. "A media company can now outsource all or most of its Web operation to us and reduce expenses considerably," Otendorf said.
In addition to site design, software, technical support and hosting, Creative Circle can provide customer support, user content approval and call-center services.
Already hosting sites for media associations "our software would provide features and value for a wide range of non-media sites as well," Ostendorf said. "It was built to be fast, easy, interactive, flexible and e-commerce ready."
Creative Circle Advertising Solutions has built Web software platforms for media companies, combining its software with design and consulting services. Originally funded by the Slater Technology Fund, a Rhode Island state economic development agency, the company has now raised $2.25 million in private equity.
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