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
To learn more about Mercent's shopping feed management and data feed
marketing solutions, please call 206 832 3900 or email firstname.lastname@example.org.
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.
Communications Director, Mercent