The Series B round for Witherspoon’s Draper James brand was led by San Francisco-based Forerunner Ventures.
Mercent plans to increase its head count by 50%, mostly hiring software engineers.
Mercent, which provides marketing services to online retailers, announced today plans to hire about 40 new employees this year, mainly software engineers, to support expansion. The new hires will increase the company’s head count by more than 50%.
Mercent, which helps e-retailers sell on online marketplaces like Amazon and eBay and through comparison shopping sites, says it needs the additional employees to handle its fast growth. The company’s revenue grew 87% in 2009 as its top-tier client list increased by 50%, and Mercent says it anticipates similar growth this year.
“Mercent continues its strong growth trajectory, delivering consistent and positive customer results and company financial performance,” says CEO Eric Best. “This traction has prompted us to accelerate our FY2011 growth strategy, with a core focus on software product innovation, advancing the retail marketing reach and performance of the Mercent Retail SaaS platform. To support this, we are significantly expanding our software engineering and client services teams.” Mercent’s technology is delivered in a software-as-a-service, or SaaS, model, which means retailer clients access the software through web connections to the Mercent host.
The company plans to expand its operations in 2011 and has raised additional funding from current investors TVS Capital, The Hillman Company and Madrona Venture Group. Mercent’s fiscal year follows the calendar year.
Mercent says it is currently recruiting in the areas of software engineering, quality assurance engineering, I.T. and network engineering, technical services and client agency services.