SteelHouse Closes $6.3 Million Series B Financing
Personality-Powered Approach to eCommerce Marketing Attracts Tech Investors Keen on Truly Disruptive Platforms
LOS ANGELES (Dec. 2, 2011) – SteelHouse (www.SteelHouse.com) today announced the company has closed $6.3 million in Series B funding from Greycroft Partners (www.GreycroftPartners.com), Rincon Venture Partners (www.Rinconvp.com), Lighthouse Venture Group (www.LighthouseVenture.com) and joins original investors Baroda Ventures (www.BarodaVentures.com) and Ron Conway / SV Angel (www.SVAngel.com).
SteelHouse continues to revolutionize eCommerce marketing with its Behavioral Commerce platform, which powers its exclusive Real Time Offers, as well as its award-winning Retargeting and Acquisition products.
Behavioral Commerce helps eCommerce companies give different shoppers different offers based on their shopping personalities and buying behaviors. The SteelHouse platform enables retailers to understand who their shoppers are by their personalities and buying behaviors, and deploy offers to them in real-time as they’re shopping. The result: retailers are able to reach the greatest number of qualified shoppers at the moment when they are most receptive and able to act.
SteelHouse has been recognized by top industry award competitions from coast to coast – winning the ad:tech Innovation Award at ad:tech New York 2011, and sweeping at Under the Radar in Silicon Valley by winning both the Judge’s Choice and Audience Choice awards. The company was selected by TiE Silicon Valley as one of the Top 10 Emerging Internet Technologies in the world, and won the top award at the prestigious Launch: Silicon Valley 2011 showcase event.
“SteelHouse’s personality-powered, Behavioral Commerce platform is finding an eager audience of online retailers that need to connect with shoppers more deeply and faster than ever before,” said Dana Settle of Greycroft Partners. “SteelHouse makes innovative leaps further and faster than anyone in this space, and that ability compels eCommerce sites to use SteelHouse’s solutions to stay ahead of the competition.”
“SteelHouse is the kind of company we want to be part of – a visionary team bringing fresh ideas and a new approach to eCommerce marketing,” said Jim Andelman of Rincon Venture Partners. “Their technology and products ensure a clear path to success.”
“We’ll use this investment to grow aggressively and accelerate the pace we bring ground-breaking technology to market,” said Mark Douglas, SteelHouse CEO. “The next 12 months will be the most exciting year in our company’s history.”
SteelHouse™ (www.SteelHouse.com), an ad:tech Innovation Award-winning company, powers the industry’s only zero reaction time marketing solution for online retailers. With SteelHouse, marketers can segment shoppers based on their shopping personalities and buying behaviors, and then instantly act on that insight. The company’s Behavioral Commerce products – Real Time Offers™, Retargeting and Display Ads – enable eCommerce merchants to direct shopper behavior with targeted offers that increase conversion rates, average order values, sales, and overall engagement.
The SteelHouse team is comprised of veteran direct marketers and engineers from eHarmony, E*TRADE, Oracle and the Rubicon Project. SteelHouse is based in Los Angeles, Calif.
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SteelHouse PR Manager