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Mercent Raises $6.5 Million in Series B Financing | Website Office
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Mercent Raises $6.5 Million in Series B Financing

January 16, 2008

SEATTLE, Jan. 16 /PRNewswire/ — Mercent, a provider of online marketing
technology and services for retail merchants, today announced that the company
has successfully closed $6.5 million in Series B financing. The financing was
led by TVC Capital and included existing investors Madrona Venture Group and
an affiliate of The Hillman Company. In connection with the financing, TVC
Capital’s managing partner Steve Hamerslag will join Mercent’s board of
directors.
Proceeds from this round of financing will be used to accelerate Mercent’s
sales and marketing activities, introduce new value-added performance
marketing services, and expand advertising distribution through The Mercent
Shopping Network. The retail advertising network reaches more than 200 million
active shoppers purchasing consumer goods and services across more than 50
leading Internet shopping channels including Amazon.com, Google, Yahoo!, and
eBay.
“TVC Capital recognizes Mercent’s market opportunity and demonstrated
progress at the intersection of software-as-a-service, retail e-commerce, and
online advertising,” said Hamerslag. “Mercent has established a sterling
customer reputation among top-tier retailers based on innovative online
marketing technology that is driving the industry forward.”
Mercent recently announced new agreements with leading retail brands
including Redcats Group and 1-800-Flowers; strategic partnerships with retail
technology leaders Omniture, Buy.com and Shopping.com; and the launch of
expanded performance marketing programs to complement the company’s
subscription software services.
“Mercent has made tremendous progress during its early-stage history,”
said Tom Alberg, Managing Director and co-founder of Madrona Venture Group.
“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.”
In 2007, Mercent Performance customers exceeded 900 percent average
return-on-ad-spend (ROAS) through The Mercent Shopping Network, more than
twice the national industry average (Forrester/Shop.org).
“We look forward to a banner year at Mercent in 2008,” said Mercent CEO
and founder Eric Best. “We’re excited to welcome Steve Hamerslag and TVC
Capital to the Mercent team, and to build upon our success to date helping
retailers generate better returns on their product inventories and online
advertising dollars.”
To learn more about Mercent’s shopping feed management and data feed
marketing solutions, please call 206 832 3900 or email info@mercent.com.
About Mercent
Founded by veterans of Amazon.com, Mercent provides online marketing
technology and services to help retail merchants optimize performance across
online channels. Mercent’s on-demand platform, Mercent Retail, increases
revenue and gross margins by promoting the right products with the right
merchandising offers and placement. Mercent Retail provides a single point of
integration between existing retail management systems and a network of more
than 50 leading online marketing channels including transactional marketplaces
such as Amazon.com and Buy.com, shopping portals such as Shopping.com and
Shopzilla, and affiliate marketing programs such as LinkShare and Performics
– making it easy for merchants to automate, measure, and optimize online
product merchandising campaigns through these channels. Mercent customers
include 1-800-Flowers, Benefit Cosmetics, REI, GUESS?, Bass Pro Shops, Redcats
Group, Celebrate Express, Levenger, and other leading retailers. Mercent is an
Amazon.com Certified System Integrator, Buy.com Gold Certified Partner, and
SHOP.COM Certified Data Feed Provider. The company is venture-funded and based
in Seattle, WA. For more information, visit www.mercent.com.
About TVC Capital, LLC
TVC Capital LLC (http://www.tvccapital.com) is a San Diego-based private
equity fund focused on the investment in and acquisition of software and
software enabled service firms across a wide spectrum of industries. TVC seeks
investment opportunities with companies generating revenues of $3 million to
$20 million. The firm typically invests in and acquires companies that meet a
mission-critical need of their customer base and are in need of capital to
accelerate their growth plans. TVC is managed by Steven Hamerslag and Jeb
Spencer. Recent investment include: Accordent Technologies Inc., iQ4bis Inc.,
and MeetingSense Inc.
About Madrona Venture Group
Madrona is an early-stage venture capital firm focused on building leading
technology companies. Started in 1995, the firm has established a national
reputation of partnering with entrepreneurs, investors and advisors to create
value together. The firm invests predominately in seed and Series A rounds
across the information technology spectrum including software, Internet,
wireless and infrastructure. Madrona currently manages over $400 million while
delivering top-quartile performance and 30 positive exits including:
Amazon.com, Isilon Systems, Classmates.com and iConclude.
About The Hillman Company
Affiliates of The Hillman Company hold a diversified portfolio of
investments, including private equity, venture capital, real estate and other
alternative assets. The Hillman Company is based in Pittsburgh, PA.
Contact
Communications Director, Mercent
206-832-3900
press@mercent.com

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