Search engines and other e-retailers lose share as shoppers increasingly turn to Amazon for product searches, a Bloomreach survey finds.
Mercent, a company that connects e-retailers to e-marketplaces and affiliate networks, has received $6.5 million in financing from a group of investors led by TVC Capital.
Mercent Corp., a provider of software and services that connect e-retailers to e-marketplaces and affiliate networks, has received $6.5 million in financing from a group of investors led by TVC Capital.
Mercent, which connects about 30 online retailers, including Recreational Equipment Inc., Smart Bargains and Bass Pro Shops, to a network of about 50 e-marketplaces and affiliate networks, will use the financing to accelerate sales and marketing activities, introduce new marketing services and expand advertising distribution through the Mercent Shopping Network, Mercent says. Mercent provides on-demand software to connect its retail clients to more than 200 million active shoppers web sites including Amazon.com, Buy.com, eBay.com, Google, Shopping.com and Shopzilla.com, Mercent says.
"TVC Capital recognizes Mercent’s market opportunity and demonstrated progress at the intersection of software-as-a-service, retail e-commerce, and online advertising,” says TVC managing partner Steve Hamerslag.
“We’re enthusiastic about the company’s ability to create major returns for blue-chip retail clients like REI, PetSmart, and GUESS? by integrating online advertising campaigns directly with back-office retail operations,” adds Tom Alberg, managing director and co-founder of Madrona Venture Group. Madrona Venture joined TVC in the current round of financing and has also made an earlier investment in Mercent; the amount of the earlier investment was not disclosed. Also joining in the current financing round was The Hillman Co.
Mercent recently added to its retailer client base RedCats Group and 1-800-Flowers.com.