Smarter Remarketer Lands a Further $7m

Customer intelligence provider Smarter Remarketer has secured another $7m in venture debt financing, which it will use to expand sales and marketing activities.

Based in Indianapolis, the company collects online behavioral data / web analytics, and combines this with transactional and demographic data. Its software then enables retailers to send intelligence-driven, targeted communication to visitors across multiple channels. In addition, its Metrics feature enables retailers to understand why consumers are abandoning their shopping carts, and how much of this potential revenue can be re-captured.

The latest financing comes from City National Bank, and adds to the $7m in venture funding provided by Battery Ventures earlier this year.

CEO Howard Bates (pictured) comments: 'Combining this financing with our previous capital investment gives us the perfect combination of financial partners to continue to grow our business. City National Bank spent considerable time understanding our capital needs and tailored a facility that enables us to continue focusing on expanding our core product platform and evolving our capabilities to help marketers more effectively and efficiently engage their customers.'

Web site: www.smarterremarketer.com .