Site search provider Mercado lands another round of funding

Mercado Software Inc., a provider of site search and browsing technology for web sites and enterprise applications, has closed a new round of funding, led by Pitango Venture Capital, Star Ventures and Mofet. The new round brings the total amount of funding raised by the company to $55 million. The company did not reveal the size of the funding.

Mercado Software also announced today that it has named Ofer Milstein as vice president of marketing.

“Mercado has been a leader in e-commerce search, a space it pioneered over 6 years ago,” said Bruce Crocker, a general partner at Pitango Venture Capital. “We are very impressed with the company’s state-of-the-art second generation technology, and with the high level of customer satisfaction the company has generated with its strong customer base.”

Milstein has held executive positions in marketing, general management, and R&D; management, most recently with Applied Materials, a supplier of process equipment for the semiconductor industry.