Rearden Commerce Secures $133M in Funding
Rearden Commerce, a Foster City, California-based developer of an ecommerce platform, has secured $133m in new funding.
Backers include existing investors American Express and JPMorgan Chase, as well as new investor Citi.
The company intends to use the new funds for acquisitions, working capital and debt repayment. Rearden Commerce, which has just acquired HomeRun.com, the creator of the HomeRun social buying service and its group commerce platform OfferEngine, plans to launch merchant offer apps for both consumers and merchants.
Led by Founder and CEO Patrick Grady, the company provides the Deem platform, which is designed to leverage big data, analytics and semantics technology to optimize the exchange of goods, services, and information to drive customer loyalty. Its smart commerce solutions seek to optimize daily business functions, including travel, procurement and expense management, and are distributed globally by more than 40 strategic partners including include market leaders in business travel, small business solutions, as well as consumer loyalty and merchant services.