Online advertising technology company Accipiter Solutions, Inc. announced that it has secured a $2 million round of funding from Frontier Capital. This is the first round of venture capital for Accipiter since the management team regained control of the company from Engage Inc. in November 2002.

Accipiter plans to use the funding to hire additional personnel in sales, marketing, and to accelerate the development of new technologies.

"Accipiter possesses four key criteria that we look for in every investment -- consistent growth and profitability, solid competitive differentiators, promising market dynamics and a strong management team," says Michael Ramich, principal, Frontier Capital.

Ramich also commented on the fact that Frontier has watched the online advertising industry evolve and mature, with "real companies (no longer just dot.coms) investing real money and experiencing real ROI using tools like those offered by Accipiter."

Accipiter clients include ClickHype, E! Online, Freeserve, iMedia, SBC SMARTpage and a number of other online publishers.

"2004 was a tremendous year for Accipiter as we continued to experience growth and success on all fronts. We are excited about putting this investment to use in our effort to meet the growing demand for our products and services and to continue to expand our offerings," says Brian Handly, chief executive officer, Accipiter.