MarketLive, a Foster City, Calif.-based provider of ecommerce software and services, has raised $20 million in Series E funding. Jafco Ventures and Northgate Capital were joined by return backers Sequoia Capital, Sigma Partners and Globespan Capital Partners. The company has now raised over 447 million in total VC funding since late 2003.
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