Searchandise Commerce, a Beverly, MA-based company that operates an online media network for product manufacturers and their retail channel partners, has secured $7m in a second round of venture capital funding.
This round was led by new investor Madrona Venture Group, with participation from existing investors Cloquet Capital Partners LLC, DFJ Gotham Partners, Draper Associates, Inflection Point Ventures, Milestone Venture Partners and Wheatley Partners.
The company, which raised $7.5m in July 2008, will use the new funds to expand its sales/marketing and operations teams.
Searchandise Commerce enables retailers to monetize every visitor that comes to their site, not just those who transact, creating an immediate, incremental and scalable revenue stream. Manufacturers and their ad agencies place cost-per-click bids on products to positively affect visibility across the network of retail and comparison shopping sites.