Wednesday, July 23, 2014
Inquirer Daily News

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.

Joseph N. DiStefano
About this blog

PhillyDeals posts raw drafts and updates of Joseph N. DiStefano's columns and stories about Philly-area finance, investment, commercial real estate, tech, hiring and public spending, which he's been writing since 1989, mostly for the Philadelphia Inquirer.

DiStefano studied economics, history and a little engineering at Penn, taught writing at St. Joe's, and has written the book Comcasted, more than a thousand columns, and thousands of articles, and raised six children with his wife, who is a saint.

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

Joseph N. DiStefano
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