BuyWithMe, Inc., a Boston, MA-based company focused on providing marketing solutions using group buying mechanisms and leveraging social media, secured $5.5m in growth capital from Matrix Partners.
In conjunction with the financing, Nicholas Beim, General Partner at Matrix Partners, will join BuyWithMe’s board of directors.
By aggregating the purchasing power of its buyer network, the company enables special pricing to be made available only to the groups of users joining its site.
Each deal is only activated if there is sufficient interest from a minimum number of buyers within a limited window of time.
BuyWithMe plans to introduce additional enhancements and add new media partners in local markets (starting from Boston, Washington D.C., and San Diego) while further building out its community across the country.