HookLogic said Thursday it raised $15.5 million in a Series C growth round from new investors Fung Capital and Mousse Partners. Existing investors Bain Capital Ventures and Intel Capital took part in the round. New York-based HookLogic, which provides performance marketing for brands, said it also sold its AutoHook division to Urban Science. Financial terms weren’t announced. Presidio Group advised HookLogic on the sale.
NEW YORK–(BUSINESS WIRE)–HookLogic, the pioneer of performance marketing for brands, today announced a $15.5 million Series C growth round from new investors Fung Capital and Mousse Partners, in addition to participation from existing investors Bain Capital Ventures and Intel Capital. Concurrent with the financing, HookLogic also announced the sale of its AutoHook division to Urban Science, a global provider of analytical solutions that helps automotive OEMs and their dealers improve sales and customer loyalty.
The announcements follow two years of rapid growth for the company, which has taken a unique approach to performance marketing by integrating native search advertising into leading ecommerce sites. Thousands of brands use HookLogic’s performance marketing platform to target shoppers on the largest commerce sites in retail and travel, including Walmart, Target, Best Buy, Macy’s, Costco, Argos, Expedia and Priceline, among many others.
“Our new investors bring deep industry knowledge and expertise to support our next wave of growth,” said Jonathan Opdyke, CEO of HookLogic. “The combination of this investment and proceeds from the divestiture will enable us to accelerate international expansion and invest in technologies that will revolutionize ecommerce and digital advertising, including huge innovations in mobile.”
Fung Capital USA, which focuses on investing in technologies that enable omni-channel commerce and improve supply chain efficiency, is a private investment arm of the families of Victor Fung and William Fung who are the controlling shareholders of the Fung Group. The Fung Group is Hong Kong based and is comprised of public and private companies including Li & Fung, a key supply chain partner of many retailers and brands, as well as Global Brands Group, one of the world’s leading companies for branded apparel, footwear, and fashion accessories.
HookLogic’s platform has grown to span more than 160 of the world’s largest ecommerce sites in 69 countries, with access to more than $90 billion in ecommerce sales for brand sales attribution. In the U.S., HookLogic‘s retail network reaches more unique shoppers than Amazon.com, with web traffic expected to surpass Amazon in Q4 of 2015.
HookLogic’s financial advisor on the sale of the AutoHook division was the Presidio Group.
HookLogic, the pioneer of performance marketing for brands, partners with the world’s leading retailers and online travel agencies to accelerate sales for product brands and hotels. Advertisers use the platform to reach in-market shoppers, drive traffic to products, and attribute resulting sales. Network partners and advertisers include Walmart, Target, Best Buy, Macy’s, Expedia, Priceline, Hasbro, Intel, LG, L’Oreal, Mondelez, Philips, Microsoft and Marriott. HookLogic is headquartered in New York, with offices in Ann Arbor, Mich.; Santa Monica, Calif.; and London. For more information, please visit www.hooklogic.com or call (646) 467-8200.
About Fung Capital USA
Fung Capital USA is a private investment arm of the families of Victor Fung and William Fung who are the controlling shareholders of the Fung Group. The Fung Group is Hong Kong based and is involved in different segments of the retail supply chain, from consumer goods design, development, sourcing and logistics, to licensing, owning and retailing of fashion brands. As of December 31, 2014, the Fung Group had total revenue of over US$24 billion, with total employees over 46,000 operating in 40 economies worldwide. For more information about Fung Capital USA, please visit: www.fungcap.com
About Bain Capital Ventures
Bain Capital Ventures (BCV) provides seed through growth capital for companies focused on technology and technology-enabled services primarily for enterprise customers. BCV invests across sectors including infrastructure software, application software, FinTech and healthcare. Select BCV investments include BloomReach, BillTrust, Docusign, Gainsight, Infusionsoft, Kiva Systems, LinkedIn, Optimizely, Rapid7, SolarWinds, SurveyMonkey. TellApart and VMTurbo. As the venture capital affiliate of Bain Capital, a leading global alternative assets firm, BCV has partnered with more than 200 companies to start, build, commercialize and grow their businesses. BCV has approximately $3 billion of assets under management and has offices in the Bay Area, New York City and Boston. Follow BCV at @BainCapVC or visit the website at www.baincapitalventures.com.
About Intel Capital
Intel Capital, Intel’s global investment organization, makes equity investments in innovative technology start-ups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software, and services targeting enterprise, mobility, consumer Internet, digital media and semiconductor manufacturing. Since 1991, Intel Capital has invested nearly US$11.6 billion in over 1,440 companies in 57 countries. In that timeframe, 213 portfolio companies have gone public on various exchanges around the world and 373 were acquired or participated in a merger. In 2014, Intel Capital invested $359 million in 125 investments, including 59 new deals. For more information on what makes Intel Capital one of the world’s most powerful venture capital firms, visit www.intelcapital.com or follow @Intelcapital.
About Urban Science
Founded in 1977, Urban Science is a global automotive consulting firm that takes a scientific approach to help manufacturers and dealers identify where they should allocate resources in order to improve market share, profitability and customer loyalty in the most effective and efficient manner. With headquarters in Detroit, Urban Science serves its global clientele from offices in the United States, Spain, United Kingdom, Germany, Italy, France, Australia, China, Mexico, Russia, Japan and Brazil. For more information on Urban Science, visit www.urbanscience.com.