'Major Investment' for Prodege
Marketing and consumer insights platform Prodege has secured an undisclosed 'major' investment from private equity firm Great Hill Partners, for use in rapid organic expansion and for targeted acquisitions.
Launched in 2008, Prodege taps a global audience of reward program members, along with deep consumer profiling, to help clients gather insights and market to their target audiences. Members (more than 120 million worldwide) are offered cash back and rewards for everyday online activities such as shopping, sharing their opinions, and discovering new products and services. Prodege's consumer properties include Swagbucks, MyPoints, and college education-savings rewards business Upromise, which it bought in June last year.
Previous investments for Boston-based Great Hill include b2b data firm ZoomInfo Partners, as well as healthcare sector firms and those developing financial and other technology.
Chuck Davis (pictured), Prodege CEO & Chairman says there are 'pivotal opportunities ahead' for company expansion, and comments: 'We're thrilled to partner with the Great Hill team. They bring exceptional expertise in the digital commerce space, helping companies like ours innovate, scale thoughtfully both organically and inorganically, and create lasting value'. Davis and the existing senior management team will remain in place and remain significant investors in the business.
Great Hill MD Michael Kumin comments: 'Companies are increasingly demanding data-driven business solutions designed to better understand and target their existing and potential customers. Prodege has built a platform uniquely positioned to address this need. We're excited to work with Chuck and Founder & President Josef Gorowitz, and their talented management team to support the Company's further growth and value creation'.
Web site: www.prodege.com .