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Monetate raises $15 million in a new funding round
E-retailers use Monetate for testing and personalization services.
Monetate, which sells testing, targeting and personalization services for e-commerce, this week said it had raised $15 million. OpenView Venture Partners led the funding round, Monetate’s second. Last year, the company raised $5.1 million in an initial funding round that included First Round Capital, Floodgate Fund and other investors.
"Monetate has clearly established itself as the leading platform for web site testing, targeting and personalization and we are excited to partner with the Monetate team," says Adam Marcus, managing director of OpenView Venture Partners. "We see Monetate as the 'third leg of the stool' for online marketers, alongside search and e-mail, driving substantial incremental revenue for clients through web site optimization that is directly under the control of marketing."
Monetate, founded in 2008, did not specify how it plans to spend the money. The company says it serves such clients as Urban Outfitters Inc., No. 48 in the Internet Retailer Top 500 Guide, The Sports Authority, No. 223, Casual Male Retail Group, No. 330, GSI Commerce, Brookstone Inc., No. 189, and Dick's Sporting Goods, No. 126.
“At Monetate our growth is fueled by the fact that we make it easy for marketers to change anything, anywhere on the web site, for any customer, without having to go through I.T.," says Monetate founder and CEO David Brussin. "We're delighted to partner with OpenView Venture Partners to accelerate our growth and help even more organizations optimize the online customer experience."