Netsertive Closes $10M Financing

Netsertive, a Research Triangle Park, N.C.-based ad tech firm specializing in localized digital advertising and channel marketing technology, has closed $10m financing.

The financing includes a $7.3m Series B equity round, which was led by Harbert Venture Partners, with participation from existing investors RRE Ventures and Greycroft Partners, and a $2.5m credit facility, which was provided by Square 1 Bank.

The company intends to use the funding to continue expanding its capabilities, scale the business, and deliver more solutions for brands and local businesses. It expects to hire at least 60 more in the next 12 months.

Led by Brendan Morrissey, CEO, Netsertive provides a proprietary platform that helps local businesses, multi-location retailers and product brands reach target customers in their respective local markets with automated digital marketing.
The company offers standalone localized campaign automation as well as its Digital Co-Op system that combines brands and local channel partners in cooperative online ad campaigns. It applies its technology in specific vertical markets including Audio/Video & Security, Home Goods, Automotive, Sports & Fitness, and Medical Practices.

In conjunction with the financing, Wayne Hunter, managing partner with Harbert Venture Partners, has joined Netsertive’s board.

FinSMEs

15/08/2012

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