eCommerce - Tuesday, May 1, 2007
ChannelAdvisor Raises $30M For Comparison Shopping Engine Booster
We just posted on Morrisville, NC-based ChannelAdvisor, when it hired a new CFO to prep for an IPO. Today, the comparison shopping engine mastermind $30M in Series C funding. New Enterprise Associates led the deal with a $23.5M of that nut. ChannelAdvisor has now raised over $66M in funding.
ChannelAdvisor plans to add another 100 heads to the payroll this year. ChannelAdvisor’s has made a lot of money with its comparison shopping engine software that helps retailers streamline the process of getting their products online into the myriad shopping sites via data feeds. ChannelAdvisor also sells expertise to manage the ROI of the channel with insight into revenues, costs and merchandising.
ChannelAdvisor says it is now processing over $100M/month (or more than $1.2B/year) in gross merchandise value on behalf of its customers.
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