LifeMed Media (dLife) Secures $9.5 Million in Series C Growth Capital – First and Only Integrated Media Network for People Living With Diabetes
Cross Atlantic Partners and Milestone Venture Partners join existing investor Battery Venture's to build on continued success of the diabetes/health multimedia information network
FOR IMMEDIATE RELEASE
November 15, 2006 (Westport, CT) – LifeMed Media (commonly known as dLife) announced that it has secured $9.5 million in Series C Growth Capital led by Cross Atlantic Partners, a top-tier healthcare venture capital firm . LifeMed Media is the first and only multimedia healthcare company focused on disease-specific community aggregation.
The investment will be used for web expansion, new product offerings, new distribution, and marketing. John Cassis of Cross Atlantic Partners will join the LifeMed Media Board of Directors. LifeMed’s first offering dLife - For Your Diabetes Life (dLife), is the first and only integrated media network created for the 21 million people living with diabetes, plus their families and those at risk of developing diabetes - a community of some 80 million in all. dLife provides knowledge, insight, advice, and inspiration to this group through its website dLife.com, a radio feature dLifeRadio, a direct mailed newsletter program dLifeConnect, professional and ethnic programs, and dLifeTV, the first weekly diabetes lifestyle show. Produced by dLife, the show airs Sundays on CNBC at 7 pm ET/4 pm PT. as well as other outlets.
According to LifeMed Media Founder & CEO Howard Steinberg, “We are extremely delighted to have such value-add investors that have a deep understanding of the healthcare space and who appreciate our vision.” Funds will be used to build on the success of the diabetes community and information aggregator. John Cassis commented, “Cross Atlantic Partners is excited about the trailblazing efforts at dLife in diabetes education.” Battery’s Neeraj Agrawal agreed: “ we’re pleased to continue our support of the company and management team given the steady traction dLife has made in the marketplace.” Says Steinberg, “Indeed, we are providing so much good to so many. dLife is making a difference!”
dLife is the only integrated consumer/patient education and marketing platform that effectively targets and reaches the diabetes community. The dLife media network consists of dLifeTV; dLife.com; dLifeRadio; the direct mail newsletter dLifeConnect; and other dLife programs. More information is available at www.dlife.com.
About Cross Atlantic Partners
Cross Atlantic Partners has been investing exclusively in later stage health and life sciences companies since 1994. More information is available at www.crossatlanticpartners.com.
About Milestone Venture Partners
Milestone Venture Partners invests in early-stage, technology-enhanced service businesses, specializing in the media, healthcare, and financial services sectors. (www.milestonevp.com)
About Battery Ventures
Since 1983, Battery has partnered with entrepreneurs and management teams across technology sectors, geographies and stages of a company’s life, from start-up and expansion financing, to growth equity and buyouts. visit www.battery.com