The two firms will become independent publicly traded companies in 2015. The move follows pressure from investor Carl Icahn to spin off the payments ...
BloomReach's technology is designed to move retailers up in organic search results.
BloomReach Corp. has raised $25 million in a new funding round, bringing the 3-year-old web-based marketing platform’s funding to date to $41 million.
BloomReach’s services include BloomSearch, which is designed to increase natural search traffic by indexing product information from e-retail sites and the broader web, and improving e-retail pages to make them more attractive to search engines. Clients include a number of retailers listed in the Internet Retailer Top 500 Guide, such as Williams-Sonoma (No. 24), Bellacor Inc. (No. 350) and Neiman Marcus Group (No. 41).
The company says it tripled its revenue and its number of clients from 2011 to 2012. It has 100 employees. BloomReach says it will double its investment in sales and marketing and triple its spending on research and development, with the intention of expanding services into mobile, social and video.
New Enterprise Associates led the funding round, and existing investors Lightspeed Venture Partners and Bain Capital also participated.