The e-retailer reports a $126 million net loss, stemming from a $640 million year-over-year increase in spending in the quarter on technology and content ...
LaGarde, makers of the StoreFront e-commerce platform, has received a $6 million investment from Shasta Ventures. LaGarde says it will use the funding to expand sales and marketing operations as well as product development teams.
Kansas City, MO-based LaGarde Inc., makers of the StoreFront e-commerce platform, has received a $6 million Series A investment from Shasta Ventures of Menlo Park, CA. LaGarde says it will use the funding to expand sales and marketing operations as well as product development teams. Jason Pressman, former chief operating officer of Walmart.com, and a partner at Shasta Ventures, has joined LaGarde`s board of directors as part of the transaction.
LaGarde`s StoreFront platform is a web-based transaction system that includes an online catalog engine, product merchandising and inventory management capabilities, order management system, payment system, as well as back office tools and enterprise modules. The company reports that the system has been used to create more than 50,000 online e-commerce systems. Customers include Lee Jeans, Schwan`s Fine Foods, Panama Jack and Cox Communications.
"Our business is showing significant traction across all fronts,” says CEO Joe Whelan. “Customer wins, revenue growth, recurring revenue and profitability are all experiencing quantum growth as the market continues to expand the e-business enablement of many different transaction processes. This investment will be used to further accelerate our momentum in this space and prime our sales, marketing and product development initiatives for growth."