Alvenda Secures $5M in Series A Funding

Alvenda, Inc., a Minneapolis, MN-based distributed commerce network that creates opportunities for selling on Facebook and through advertising media, has received $5m in venture capital funding from Split Rock Partners. 

In conjunction with the round, Split Rock Managing Director Michael Gorman has joined the company’s board of directors.

According to Gorman, the new funds will enable Alvenda to scale its operations to meet the growing demand for distributed commerce solutions and expand its business development team.

The company was founded in 2008 by Wade Gerten and Brian Howe, executives with domain expertise in online marketing, retail software and interactive advertising, In July of 2009, launching 1-800-FLOWERS.COM, Alvenda was the first company to enable merchants to sell directly within Facebook.

FinSMEs

25/01/2010

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