The acquisition will add more than 300 products to L’Oreal’s lineup.
The digital marketing technology vendor will use the money to expand.
Digital marketing technology firm BrightTag has secured $15 million in its latest funding round. The firm’s technology platform acts as an integration point for e-retailers to connect and distribute their web site data, including site analytics and information about marketing campaigns. E-retailers can then grant their web site or marketing vendors access to the data through BrightTag.
Baird Venture Partners led the funding round. Existing investors, New World Ventures, TomorrowVentures, Epic Ventures, I2A and Silicon Valley Bank, also participated.
BrightTag says it is on track to reach triple-digit growth this year following big growth in 2011. E-retailer clients include Crate & Barrel, No. 55 in Internet Retailer’s Top 500 Guide, Gap Inc. (No. 24), 1-800-Flowers (No. 45) and Chegg Inc., No. 530 in the Second 500 Guide.
The technology company says it will use the new funding to further develop services and expand sales in the United States and internationally.
Baird’s investment also comes with a seat on BrightTag’s board. Benedict Rocchio, a partner at Baird, will join BrightTag’s board of directors.
“This financing will help BrightTag continue to execute on our vision to eliminate the unnecessary complexity that exists in online marketing today,” says BrightTag CEO Mike Sands. “We look forward to helping brands seamlessly connect to a vibrant digital marketing industry filled with opportunity.”
Investment banking firm Petsky Prunier LLC advised BrightTag on the funding round.