CEO Sharon Price John says Build-A-Bear’s old e-commerce system is a big reason for disappointing online sales in December.
The provider of the Terapeak market research tool will use the funds to spur growth.
E-commerce research and data aggregator Advanced Ecommerce Research Systems Inc. has raised $4 million.
Venture firm Georgian Partners, which financed the investment, will add two representatives to Advanced’s board of directors.
Advanced, which is the provider of the Terapeak market research tool, says it will use the funds to drive growth and expand its data aggregation offerings. Terapeak can track sales on eBay, and it widely used by merchants that sell on the online marketplace.
“We support Advanced’s vision of providing e-commerce merchants with valuable insights into real-time online product popularity, sales and pricing trends along with advanced sales reporting proven to help increase gross merchandise value,” says Simon Chong, Georgian Partners managing partner.
Advanced says more than 450,000 merchants use its software-as-a-service offerings.