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Kanoodle.com receives funding from Insight Venture Partners

Published on .

Amherst, N.Y.--Kanoodle.com, a provider of sponsored search marketing listings, said Wednesday that it has received venture capital funding from Insight Venture Partners. Specific details of the funding were not disclosed.

This marks the first external investment in the company and signals its push to develop new business lines. The company has also opened a New York office and hired three executives to develop a new content division.

Lance Podell was named president of the new division; Doug Perlson was named senior VP-partner development and operations; and Mark Josephson was named senior VP-marketing and business development. All three executives were previously with competitor Sprinks, All three executives were previously with competitor Sprinks, which Google recently acquired from Primedia.

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