SOURCE: MarketLive

May 05, 2008 06:00 ET

MarketLive® Secures $20 Million in New Capital -- Charts Course for Growth and Acceleration of Customer Performance

JAFCO Ventures and Northgate Capital Join Existing Investors to Fuel MarketLive Leadership in the Expanding eCommerce Market

FOSTER CITY, CA--(Marketwire - May 5, 2008) - MarketLive, Inc., the leading global eCommerce software and service provider, today announced it has secured a $20 million round of new capital. New investors, JAFCO Ventures and Northgate Capital, join existing investors, Sequoia Capital, Sigma Partners, Globespan Capital, and others, who all fully participated in the round. MarketLive will use the capital to deliver significant value to its customers by advancing its product leadership, funding business-critical infrastructure, and adding enhanced services.

"The eCommerce market is rapidly growing and what impressed us about MarketLive is how well they are outpacing that growth," said Joe Horowitz, General Partner at JAFCO Ventures. "In our view MarketLive has all the ingredients for great success, in addition to being in an attractive market, their products map very well to the present and future needs of their customers and they have an exceptionally strong management team."

Investors were drawn to MarketLive's momentum in the fast-growing eCommerce solutions market, which will experience nearly 20% growth in 2008 according to Forrester Research.* In the past 12 months, MarketLive added 33 new brands to its portfolio and launched 56 new sites. The MarketLive Performance Index™, a quarterly report of aggregate performance across the MarketLive installed base, reveals retail sites built on the MarketLive eCommerce Suite achieve optimal business performance in key areas such as search, conversion, and revenue per visit. Many MarketLive merchants are outperforming the industry by achieving 24% growth in sales, a 59% increase in conversion rates, and 30% more traffic from search engines.

"MarketLive's seasoned management team understands how to meet the growing demands of its customers," said Sameer Gandhi, Partner at Sequoia Capital. "We are excited about MarketLive's future and confident the company is well positioned to capitalize on the opportunity the market presents."

Terry Austin, President and CEO of MarketLive, added, "We have the right vision for growth, a broad and loyal customer base, and a unique mix of eCommerce expertise and technology that sets us apart in this growing market. We are pleased to welcome new investors to our team, and look forward to working with them to grow MarketLive to its fullest potential."

About MarketLive

Since 1995, MarketLive, Inc. (www.marketlive.com) has provided enterprise-class eCommerce retail technology and services that help fast-growing companies successfully sell goods online. Designed to meet the unique requirements of catalogers, retailers, direct marketers, and manufacturers, the extensible MarketLive® eCommerce Suite and MarketLive's best practices-based Intelligent Selling® methodology enable merchants to enhance their customers' experience online while dramatically improving acquisition, conversion, and retention rates. The MarketLive platform is the most retail-targeted, fully featured, customizable eCommerce solution on the market today. MarketLive powers some of the most successful retail Web sites, including Boston Proper, Bon-Ton Stores, Stride Rite, and Trek.

About JAFCO Ventures

For more information about JAFCO Ventures, please visit: www.jafco.com

About Sequoia Capital

For more information about Sequoia Capital, please visit: http://www.sequoiacap.com/sequoia-capital/

About Northgate Capital

For more information about Northgate Capital, please visit: www.northgatecapital.com

* Forrester Research, US eCommerce Forecast: 2008 To 2012, January 2008

Contact Information

Webosphere

Keyword Cloud

View Website