Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
The company will use the funds to expand internationally and invest in technology.
Privacy certification vendor Truste has raised $15 million in a Series C funding round led by Baseline Ventures, an early-stage venture capital firm.
Truste will use the funding to increase the size of its sales and operations staff, expand its international operations and bolster its development of new technologies.
The vendor says it has nearly tripled in size—in terms of number of employees, as well as sales—in the past 18 months. The funding round will facilitate continued growth, says Chris Babel, the company’s CEO. "Truste looks forward to scaling the company further as we continue to deliver cutting-edge privacy solutions during this time of rapid technology change," he says.
Key to Truste’s growth is its ability to simplify privacy management for consumers, says Steve Anderson, Baseline Ventures founder. “Truste has a unique combination of robust technology, an innovative compliance methodology, and the most trusted and recognizable privacy brand through its pervasive online trust mark, which has enabled it to continuously deliver industry-leading privacy management solutions,” he says.
Truste’s three funding rounds have raised a total of $27 million.