Even with a new lease on life, Linens ‘N Things online faces a tough fight.
Social marketing vendor Gigya raises $25 million
The company works with Art.com and World Wrestling Entertainment Inc.
Social marketing vendor Gigya Inc. has raised $25 million in a funding round led by Greenspring Associates. Existing investors Benchmark Capital, Mayfield Fund, DAG Ventures and Advance Publications Inc. also participated. Gigya has raised $70 million to date.
Gigya develops tools that enable businesses to link their social profiles—and those of their users—to their web sites via features like social logins. Gigya also offers more sophisticated information gathering tools. For example, its SocialSync feature tracks a brand’s Facebook followers so that when a consumer updates his profile, such as changing his relationship status from “single” to “in a relationship,” the brand can use that information to market to him.
The vendor says it has more than 700 clients, including online retailers Art.com Inc., No. 130 in Internet Retailer’s 2013 Top 500 Guide and World Wrestling Entertainment Inc., No. 564 in the Second 500 Guide. Its other clients include PepsiCo Inc. and Verizon Communications Inc.
Gigya, which has more than 225 employees, says that it will use the funds to expand its sales and marketing teams. It also plans to develop more social products that help businesses develop relationships with consumers.
“The global market is telling us that we need to grow faster to meet demand and that's exactly what we're going to do," says Patrick Salyer, the vendor’s CEO.