Second round of financing from Peacock to expand search and advertising platforms
NEW YORK--Tuesday, April 27, 2010-- Peacock Equity, a joint investment fund of GE Capital's Media, Communications & Entertainment business and NBC Universal, today announced it participated in the third round of funding for Healthline Networks, a leading provider of intelligent health information services. Healthline raised a total of $14 million in this round of financing, with Peacock Equity contributing $2.5 million, its second investment with Healthline.
The company will use the proceeds to expand research and development, engineering, sales and network services to meet the growing demand from a broad spectrum of consumer-focused media and healthcare businesses looking to improve the way consumers find, understand and manage health-related information. The company will also work to expand its advertising platform and services.
"Healthline has demonstrated strong growth since our initial investment of $7.5 million in 2007, and we expect this round of funding to help sustain this growth path," said Brian Keil, managing director, Peacock Equity. "Through its support of NBCU's iVillage, our Healthline investment illustrates Peacock Equity's strategy to invest in emerging digital technology companies that offer scalable products and services which can benefit from or contribute to NBC Universal business platforms."
The Healthline investment is aligned with GE's healthymagination initiative.
"The scale and reach of Healthline's media network enables millions of people to drive their personal health in partnership with their doctors," said Michael Barber, Vice President, healthymagination. "We look forward to exploring a broader collaboration in the future."
Since Peacock Equity's first investment, Healthline has become the leading network for health information, with 40 top-tier partners reaching nearly 100 million consumers per month. The company doubled revenue and achieved profitability in 2009.
"This financing round is an important milestone for Healthline as we build our global leadership position in health information services," said West Shell III, chairman and chief executive officer of Healthline. "The latest financing will accelerate Healthline's growth and scalability, and allow us to invest more heavily in developing innovative technology solutions that transform the way consumers interact with health information."
The third round of financing was led by IGC Investor Growth Capital, the wholly owned venture capital arm of Investor AB. Reed Elsevier Ventures also participated.
For more information about Peacock Equity's portfolio companies, visit www.peacockequity.com.
About Peacock Equity Fund
Peacock Equity is a $250 million global capital fund jointly managed by GE Capital's Media, Communications & Entertainment business and NBC Universal. Introduced in April 2007, the fund focuses on companies developing technologies, platforms or business models that are a strategic fit to NBC Universal and have high growth potential. Peacock Equity's capital investments include advertising services, digital content and communities, and wireless and international platforms. www.PeacockEquity.com
About HealthlineNetworks
Healthline Networks is a leading provider of intelligent health information services, enabling over 90 million consumers a month to make more confident, informed healthcare decisions. The company's proprietary consumer healthcare taxonomy, the largest of its kind, powers a suite of intelligent health search, content and advertising services. Combining advanced search technology with deep medical expertise, Healthline partners with a network of over 40 trusted destination sites that include publishers, portals, search engines, employers and health plans. Headquartered in San Francisco, Healthline is backed by Aetna, GE/NBC Peacock Fund, Investor Growth Capital, Kaiser Permanente, Reed Elsevier, U.S. News & World Report, and VantagePoint Venture Partners. For more information visit http://www.healthline.com.
Ned Reynolds
GE Capital
[email protected]
+1 203 2295717
+1 203 8370699