$5.1m Funding for Site Tagging and Tracking Firm

In the US, Monetate - which provides web site testing, targeting and personalization - has raised $5.1m, which it says will feed growing demand for its consumer web site solutions, and allow it to increase its staff from 30 to about 50 employees.

Monetate was founded in 2008 by tech industry veterans David Brussin and David Bookspan (pictured). This round of funding has been led by First Round Capital, Floodgate Fund and other institutional investors.

The firm uses its 'one tag' technology and other innovations to enable users to run campaigns and simultaneously track results in real time. The solution supports A/B and multivariate testing, and enables web sites to implement targeting and personalized offers and promotions.

'After cutting-and-pasting just one tag onto their site, marketing and merchandising staff can test every web site element and promotion, quickly segmenting and targeting visitors with the products they're most interested in purchasing,' states Mike Maples, Managing Partner at Floodgate Fund.

Web site: www.monetate.com .