Mercent Raises $6.5 Million in Series B Financing Retail Online Marketing Firm Expands Customer Base, Strategic Partnerships,

and Advertising Distribution



    SEATTLE, Jan. 16 /PRNewswire/ -- Mercent, a provider of online
 marketing technology and services for retail merchants, today announced
 that the company has successfully closed $6.5 million in Series B
 financing. The financing was led by TVC Capital and included existing
 investors Madrona Venture Group and an affiliate of The Hillman Company. In
 connection with the financing, TVC Capital's managing partner Steve
 Hamerslag will join Mercent's board of directors.
 
     Proceeds from this round of financing will be used to accelerate
 Mercent's sales and marketing activities, introduce new value-added
 performance marketing services, and expand advertising distribution through
 The Mercent Shopping Network. The retail advertising network reaches more
 than 200 million active shoppers purchasing consumer goods and services
 across more than 50 leading Internet shopping channels including
 Amazon.com, Google, Yahoo!, and eBay.
 
     "TVC Capital recognizes Mercent's market opportunity and demonstrated
 progress at the intersection of software-as-a-service, retail e-commerce,
 and online advertising," said Hamerslag. "Mercent has established a
 sterling customer reputation among top-tier retailers based on innovative
 online marketing technology that is driving the industry forward."
 
     Mercent recently announced new agreements with leading retail brands
 including Redcats Group and 1-800-Flowers; strategic partnerships with
 retail technology leaders Omniture, Buy.com and Shopping.com; and the
 launch of expanded performance marketing programs to complement the
 company's subscription software services.
 
     "Mercent has made tremendous progress during its early-stage history,"
 said Tom Alberg, Managing Director and co-founder of Madrona Venture Group.
 "We're enthusiastic about the company's ability to create major returns for
 blue-chip retail clients like REI, PetSmart, and GUESS? by integrating
 online advertising campaigns directly with back-office retail operations."
 
     In 2007, Mercent Performance customers exceeded 900 percent average
 return-on-ad-spend (ROAS) through The Mercent Shopping Network, more than
 twice the national industry average (Forrester/Shop.org).
 
     "We look forward to a banner year at Mercent in 2008," said Mercent CEO
 and founder Eric Best. "We're excited to welcome Steve Hamerslag and TVC
 Capital to the Mercent team, and to build upon our success to date helping
 retailers generate better returns on their product inventories and online
 advertising dollars."
 
     To learn more about Mercent's shopping feed management and data feed
 marketing solutions, please call 206 832 3900 or email info@mercent.com.
 
     About Mercent
 
     Founded by veterans of Amazon.com, Mercent provides online marketing
 technology and services to help retail merchants optimize performance
 across online channels. Mercent's on-demand platform, Mercent Retail,
 increases revenue and gross margins by promoting the right products with
 the right merchandising offers and placement. Mercent Retail provides a
 single point of integration between existing retail management systems and
 a network of more than 50 leading online marketing channels including
 transactional marketplaces such as Amazon.com and Buy.com, shopping portals
 such as Shopping.com and Shopzilla, and affiliate marketing programs such
 as LinkShare and Performics -- making it easy for merchants to automate,
 measure, and optimize online product merchandising campaigns through these
 channels. Mercent customers include 1-800-Flowers, Benefit Cosmetics, REI,
 GUESS?, Bass Pro Shops, Redcats Group, Celebrate Express, Levenger, and
 other leading retailers. Mercent is an Amazon.com Certified System
 Integrator, Buy.com Gold Certified Partner, and SHOP.COM Certified Data
 Feed Provider. The company is venture-funded and based in Seattle, WA. For
 more information, visit http://www.mercent.com.
 
     About TVC Capital, LLC
 
     TVC Capital LLC (http://www.tvccapital.com) is a San Diego-based
 private equity fund focused on the investment in and acquisition of
 software and software enabled service firms across a wide spectrum of
 industries. TVC seeks investment opportunities with companies generating
 revenues of $3 million to $20 million. The firm typically invests in and
 acquires companies that meet a mission-critical need of their customer base
 and are in need of capital to accelerate their growth plans. TVC is managed
 by Steven Hamerslag and Jeb Spencer. Recent investment include: Accordent
 Technologies Inc., iQ4bis Inc., and MeetingSense Inc.
 
     About Madrona Venture Group
 
     Madrona is an early-stage venture capital firm focused on building
 leading technology companies. Started in 1995, the firm has established a
 national reputation of partnering with entrepreneurs, investors and
 advisors to create value together. The firm invests predominately in seed
 and Series A rounds across the information technology spectrum including
 software, Internet, wireless and infrastructure. Madrona currently manages
 over $400 million while delivering top-quartile performance and 30 positive
 exits including: Amazon.com, Isilon Systems, Classmates.com and iConclude.
 
     About The Hillman Company
 
     Affiliates of The Hillman Company hold a diversified portfolio of
 investments, including private equity, venture capital, real estate and
 other alternative assets. The Hillman Company is based in Pittsburgh, PA.
 
 
Contact Communications Director, Mercent 206-832-3900 press@mercent.com

SOURCE Mercent

Best of Content We Love 2014 


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

 

PR Newswire Membership

Fill out a PR Newswire membership form or contact us at (888) 776-0942.

Learn about PR Newswire services

Request more information about PR Newswire products and services or call us at (888) 776-0942.