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Turn valued at nearly $700m in latest round

14 Jan 2014

dollar 12_sqAdvertising software company Turn has reportedly raised an $80m round led by BlackRock and Fidelity Investments.

The round, which valued the business at nearly $700m, was oversubscribed, said Dow Jones, citing a person with knowledge of the deal.

Existing backers Norwest Venture Partners, Trident Capital, Shasta Ventures Management and new investors ClearBridge Investments, Firsthand Technology Value Fund , Northport Investment Management and Pine River Capital Management also participated in the round, CEO Bill Demas told Bloomberg.

The company plans to expand globally, mostly in Brazil and Japan, said Demas.

One of Turn’s backers, Norwest, has recently backed a $14m Series B round for healthcare cloud computing platform ClearDATA Networks.

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