Tuesday, September 1, 2015

Monetate raises $15M "to grow our team": Update

Retail Web tools maker raised another $20M in 2011

Monetate raises $15M "to grow our team": Update


UPDATE: Monetate's new $15 million, from "new and existing investors," will be used "to grow our team and expand into new verticals and geographies," says boss David Brussin in a brief statement.

EARLIER: Monetate, First Round Capital-backed, West Conshohocken-based retail Web tools and "Big Data insights" provider, says it's raised $15.2 million of a projected $17 million in a new private offering, from unnamed investors.

Monetate employs 140 -- engineers, designers, salespeople -- and is hiring for 40 additional open positions, says spokeswoman Marifran Manzo-Ritchie. Monetate raised $20 million in previous offerings in 2011.

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PhillyDeals posts drafts, transcripts and updates of Joseph N. DiStefano's columns and stories about Philly-area business, which he's been writing since 1989.

DiStefano studied economics, history and a little engineering at Penn and taught writing at St. Joseph's. He has written thousands of columns and articles for the Inquirer, Bloomberg and other media, wrote the book Comcasted, and raised six children with his wife, who is a saint.

Reach Joseph N. at JoeD@phillynews.com, distefano251@gmail.com, 215.854.5194 or 302.652.2004.

Reach Joseph N. at JoeD@phillynews.com or 215 854 5194.

Joseph N. DiStefano
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