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With Microsoft (NASDAQ: MSFT) mega deal to buy aQuantive (NASDAQ: AQNT), the digital agency space has been scorching hot. So, it should be no surprise that we are seeing some big fundings.

The latest is a $62 million round for iCrossing. The investors include Goldman Sachs (NYSE: GS), Oak Investment Partners, RRE Ventures and StarVest Partners.

Founded in the late 1990s, iCrossing has put together a cutting-edge firm and has clients like General Motors (NYSE: GM) and Coca-Cola (NYSE: KO). The company has also been buying up rivals.

Basically, iCrossing helps with such things as search, mobile strategies, and social media. In other words, the company probably doesn't have much of a problem getting new business - or projects.

Although, it looks like the gem is iCrossing's search expertise (which goes back to the roots of the company).

And, by having Goldman, it's a good bet that we'll soon see a sale of the company, or even a public offering.

To check out more recent VC fundings, click here.

Tom Taulli is the author of various books, including the Complete M&A Handbook and the EDGAR-Online Guide to Decoding Financial Statements.

iCrossing: The next aQuantive? originally appeared on BloggingStocks on Fri, 27 Jul 2007 14:15:00 EST. Please see our terms for use of feeds.

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