HookLogic has raised $9.5 million in its first institutional financing from Bain Capital Ventures. The company, which says it has been profitable for the past six years, sells software designed to help e-commerce retailers to incorporate relevant and profitable paid media programs within their online, mobile and social stores. The financing will be used to expand its business across the retail, travel and automotive sectors, the company said.
HookLogic, the leader in e-commerce media, today announced a $9.5 million round of financing from Bain Capital Ventures. It is the first institutional investment in HookLogic after six years of profitable growth. The funding will be used to further develop its unique Software-as-a-Service (Saas) platform that has underpinned the company’s record growth in the first half of 2011, and aggressively expand its business across the retail, travel and automotive sectors in North America and Europe.
HookLogic provides technology and services that enable e-commerce retailers to incorporate relevant and profitable paid media programs within their online, mobile, and social stores. It simultaneously provides brands and their media agencies with deep funnel marketing opportunities that reach shoppers in the buying mode at the critical moment between consideration and purchase. HookLogic currently works with several industry leaders including Overstock.com and Expedia. In June of this year, it was selected to Red Herring’s Top 100 North America list, which in past years included Facebook, Twitter, Google, Yahoo, Skype, Salesforce.com, YouTube and eBay.
“We believe e-commerce media is a truly disruptive concept for both retailers and advertisers,” says Deepak Sindwani, Principal at Bain Capital Ventures. “We have followed this growing space for years and evaluated several of the players. We believe HookLogic is uniquely positioned to capitalize on this opportunity through its industry-leading technology and media services.”
According to HookLogic CEO Jonathan Opdyke, Bain Capital Ventures is an ideal strategic partner to help the company accelerate its growth plans due to its deep roots and expertise in the retail and technology sectors.
“We see this as a validation of our business model from one of the smartest, most demanding investors in the world, and an opportunity to truly change the economics behind an industry,” says Opdyke. “Today, few retailers fully monetize their digital assets despite clear demand from advertisers for point-of-sale marketing. This growth investment will help open the doors to one of the most valuable touch points in digital marketing — the moment of truth when shoppers become buyers.”
HookLogic powers e-commerce media, a revolutionary way for brands and shoppers to connect in and around the e-commerce environment. For retailers, HookLogic drives a new, high-profit, media-based revenue stream. For marketers, HookLogic creates unprecedented opportunities to influence in-market shoppers at key decision points. Headquartered in New York City, the company has offices in Ann Arbor, MI, Atlanta, GA and Manchester, UK. Clients include Expedia, Overstock.com, Meijer, Shoebuy.com and Wayfair. Learn more at www.hooklogic.com.
About Bain Capital Ventures:
Bain Capital Ventures is the venture arm within Bain Capital, which has approximately $66 billion of assets under management worldwide. The firm’s history of investing in venture-stage companies dates back to 1984 with over 125 venture investments since inception including DoubleClick, Gartner Group, LinkedIn, m-Qube, ProfitLogic, Shopping.com, Staples, Taleo and vAuto. Bain Capital Ventures manages $1.5 billion of assets, has over 70 active portfolio companies, and has offices in Boston, New York, and Palo Alto. The firm has helped steer many ideas to success by working in partnership with management teams, pairing talented and passionate entrepreneurs with industry experts, opening doors to customers, and collaborating on sound long-term strategies.