Bazaarvoice lands another round of funding
Bazaarvoice, provider of technology that allows consumers to post product reviews and comments to retail web sites, has secured $8.8 million in a second round of funding from Battery Ventures and Austin Ventures. Battery Ventures led the round, and general partner Neeraj Agrawal joined Bazaarvoice’s board of directors.
Other participants included first-round investors First Round Capital; Julie Constantin, co-founder of Constantin Partners; Jamie Crouthamel, founder and former CEO of Performics; and David Reibstein, co-founder and board member of BizRate/Shopzilla.
Bazaarvoice, launched in January 2006, says it will use the funding to further its position in the market. It reports more than 120 customers, including Bass Pro Shops, Dell, Macy’s, Overstock.com, PETCO, QVC and Sears.
“The world of sales and marketing has been forever changed by social media, and Bazaarvoice has turned the exploding trend of user-generated content into a successful business by using it to deliver clear and measurable ROI to big brands,” Agrawal says. “Bazaarvoice is a great example of a profitable, capital-efficient software as a service business with a proven revenue model and highly satisfied clients.”
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