Foley Hoag Client inStream Media Receives Funding

June 16, 2009

Lawyers in Foley Hoag’s Business Department congratulate inStream Media Inc., a client of the firm, for recently closing the second tranche of a financing in the amount of $1.036 million.  The Series A-3 Preferred Stock investment was led by Stage 1Ventures, CommonAngels and IDP Ventures.

inStream Media is a targeted business-to-business marketing company focused on the retailing industry.  inStream’s 1-to-1 Ads system enables retailers to deliver behaviorally targeted ads and discount offers to shoppers printed right on the front of consumer sales receipts.  The recent funding will be used to build out the software program and implement the technology with participating retailers.

The transaction was handled by partner Arlene Bender and associate Vivian Coates.

Foley Hoag offers venture capital and emerging company clients highly experienced, issue-focused counsel, integrated with the firm’s full-service practice. Each year the group represents venture capital investor clients in a large number of financing transactions, from small seed-rounds to much larger later-stage investments.  For the past three years the firm has been a sponsor of the Angel Capital Association’s Annual Summit and the firm is a National Partner of the organization.

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