SOURCE: Jirafe

Jirafe

June 27, 2012 12:00 ET

Jirafe Closes $7M Series A Funding Led by Foundry Group & FirstMark Capital

Funding to Accelerate Market Leadership in Analytics for eCommerce

NEW YORK, NY--(Marketwire - Jun 27, 2012) - Jirafe (www.jirafe.com), the leading analytics provider to ecommerce retailers, today announced the completion of a Series A funding round of $7 million in growth capital from Foundry Group and FirstMark Capital. FirstRound Capital and O'Reilly Alpha Tech Ventures also participated.

Jirafe helps online retailers make better marketing and merchandising decisions in real time. Over 5,000 merchants in 50 countries around the world have adopted Jirafe to manage more than 100 million commerce transactions in the last twelve months and seen revenue increase by more than 50 percent on average.

 With this new capital, Jirafe will continue to invest in their cutting-edge product line and grow its teams in New York, London and Paris, the three centers of online and offline retail. This investment will further increase Jirafe's ability to service retailers, support agency partners around the world and help platform partners deliver more value to their customers. With thousands of customers in the US and Europe, Jirafe will now expand to support retailers and partners in Asia and Latin America by the end of the year.

"We are very pleased to be working with Foundry Group and FirstMark Capital to fast-track our growth," said Amit R. Shah, CEO, Jirafe. "With this investment we will deliver even more value to retailers around the world as we go through the next phase of our growth strategy."

"Over the past ten years, we have seen the most successful companies come from the intersection of large markets. In the case of Jirafe, they help retailers be successful by combining data from the world of ecommerce and marketing, two huge and complicated markets," said Seth Levine, Managing Director of Foundry Group. "Jirafe's experienced management team has proven how to build a product that has seen incredible adoption and redefined the space for online analytics, commerce and marketing. We look forward to being long-term partners with a company that has massive growth opportunities ahead," said Amish Jani, Managing Director of FirstMark Capital.

With this new investment Seth Levine, Managing Director, Foundry Group, and Amish Jani, Managing Director at FirstMark Capital will join Amit R. Shah, CEO & Co-Founder, and the company's CTO & Co-Founder, Scott Switzer on the Jirafe Board of Directors.

In December 2010, the company raised a seed round of $2 million from FirstMark Capital, FirstRound Capital, O'Reilly Alpha Tech Ventures and the City of New York's Economic Development Fund.

About Jirafe
Jirafe is the leading provider of analytics for ecommerce retailers. By combining website data with customer data and online marketing data Jirafe is able to provide real-time actionable insight that helps merchants make marketing and merchandising decisions to directly increases online revenue. The company was started by a seasoned team from Magento and OpenX. Jirafe is headquartered in New York City. For more information visit http://www.jirafe.com.

For additional news follow @Jirafe on Twitter.

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