SOURCE: MyBuys

October 08, 2007 08:00 ET

MyBuys Raises $10 Million to Extend Leadership in Behavioral Recommendations

Additional Financing Enables Leader in 1:1 Targeting for eCommerce to Meet Growing Demand and Accelerate Market Expansion

REDWOOD CITY, CA--(Marketwire - October 8, 2007) - MyBuys, a leading 1:1 behavioral recommendation service for online retailers, today announced it has secured a $10 million Series B funding. Palomar Ventures led the round with participation from existing investor Lightspeed Venture Partners.

"The funding further validates MyBuys' unmatched targeting ability using our proprietary, patent-pending technology," said Robert E. Cell, CEO of MyBuys. "This investment will enable us to significantly increase our market momentum."

MyBuys, which introduced MyBuys 3.0 earlier this year, delivers the industry's first 1:1 behavioral recommendation service that targets consumers both while they are shopping and in follow up emails. MyBuys presents products a consumer is truly interested in buying, which enables online retailers to achieve an extraordinary 300% higher revenue per customer interaction.

"As pressure grows to maintain high growth rates in ecommerce, MyBuys' service will become a competitive requirement for online retailers," said Amanda Reed, partner at Palomar Ventures. "With this financing, MyBuys will have an opportunity to further its ability to provide the greatest revenue lift for online retailers."

"With its innovative approach to targeting and optimization, MyBuys offers the most effective solution to this burgeoning market," said Peter Nieh, partner at Lightspeed Venture Partners. "MyBuys can significantly improve the profitability of online merchants by enabling them to more fully monetize the website traffic that they have spent substantial dollars to generate."

About MyBuys (www.mybuys.com)

MyBuys is a 1:1 behavioral recommendation service for online merchants. MyBuys builds deep behavioral profiles on each consumer resulting in the highest converting recommendations. By reaching consumers on a client's web site, through email, and in RSS feeds, retailers realize more repeat visits, increased conversions, and larger order sizes. MyBuys generates revenues at 300% the rate of traditional marketing programs, with no upfront costs and a pay for performance model, so customers realize immediate results with no risk.

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