PORTLAND, OR--(Marketwire - May 25, 2011) - ShopIgniter (www.shopigniter.com), a rapidly growing provider of innovative social eCommerce software, today announced the company has raised $8 million in Series B funding from new investor Trinity Ventures (http://trinityventures.com) and existing investor Madrona Venture Group (www.madrona.com). Larry Orr, General Partner at Trinity, has been appointed to the ShopIgniter board of directors. Mr. Orr will join existing outside directors Tom Alberg, a Madrona Managing Director and Amazon.com board member, and Dave Hersh, founding CEO of Jive Software.
"ShopIgniter is the first software provider to fully integrate social promotional capabilities with enterprise-class eCommerce functionality using a platform approach and is now the market leader in social commerce software for brands and retailers," said Larry Orr, General Partner at Trinity Ventures. "ShopIgniter customers have the best of all worlds. First, they have the ability to enhance eCommerce offerings on the social Web with new retail models and social promotional capabilities. Second, retailers can integrate with existing back-end systems to ensure a complete view of their customers' buying behaviors. Lastly, but probably most importantly, ShopIgniter's software allows online shoppers to promote products and influence the purchasing decisions of their friends."
Trinity Ventures brings extensive traditional and next-generation eCommerce experience from investments in companies such as Blue Nile, Zulily, ThredUp, Care.com and Beachmint.
The funding will be used to grow sales, marketing and product development of the company's flagship sCommerce Suite of flexible products, already used by leading retailers and brands such as Nike Golf, CafePress, and the Portland Trail Blazers. ShopIgniter's software includes the Social Promotion Engine to power and track scalable word of mouth product promotions and loyalty incentives, a Facebook product merchandising application, and an enterprise class social commerce platform with a robust API.
In addition to its powerful sCommerce platform, ShopIgniter is the only social commerce software provider to offer product and promotion level analytics giving companies visibility into their customers' influence on incremental revenue via their social networks.
"With this latest infusion of capital and the addition of a great financing partner, we will continue to define the social commerce market and strengthen ShopIgniter's leading position," said Matt Compton, CEO of ShopIgniter. "We are eager to help retailers and brands extend customer reach and drive incremental sales by embracing the disruption the social web has created in traditional eCommerce."
About Trinity Ventures
Founded in 1986, Trinity Ventures, a boutique early stage venture capital firm, is dedicated to partnering with passionate entrepreneurs to transform revolutionary ideas into reality. With over $1 billion under management, Trinity Ventures believes in personal engagement, mutual respect and goal alignment with the entrepreneurs. Trinity Ventures focuses on early stage and seed technology investments with particular emphasis on digital media, cloud computing, internet services, mobility, security and software markets. Trinity Ventures has invested in such leading companies as Aruba Networks, 21Vianet, Blue Nile, LoopNet, Photobucket, SciQuest, Starbucks, Beachmint, Infoblox, Trion Worlds and Zulily. More information can be found at www.trinityventures.com
About Madrona Venture Group
Madrona has been investing in early-stage technology companies in the Pacific Northwest since 1995 and has been privileged to play a role in some of the region's most successful technology ventures. The firm invests predominately in seed and Series A rounds across the information technology spectrum including consumer Internet, commercial software and services, digital media and advertising, networking and infrastructure, and wireless. Madrona currently manages over $650 million and was an early investor in companies such as Amazon.com, Isilon Systems, Farecast, iConclude, World Wide Packets and ShareBuilder. To learn more, visit www.madrona.com.
ShopIgniter is a rapidly-growing, social eCommerce software company. ShopIgniter helps companies of any size activate their customer networks to extend their reach and generate revenue through social eCommerce efforts. ShopIgniter provides the sCommerce Suite of flexible products that include a Social Promotion Engine to power shareable coupons, referral and loyalty incentives, private and flash sales, group promotions and social ratings and reviews; a fully transactional Facebook Store; and a cloud-based sCommerce Platform; all of which can power a stand-alone eCommerce business or be integrated with existing eCommerce systems.
With over a hundred customers such as Nike Golf, CafePress, Portland Trail Blazers, Kembrel and growing, ShopIgniter meets the social eCommerce needs of a variety of companies including retailers, brand manufacturers and their interactive agencies.
More information can be found at www.shopigniter.com.