SteelHouse Closes $8.25 Million in Investor Funding
SteelHouse has secured an additional round of funding for its real time Behavioral Commerce technology.
LOS ANGELES (July 12, 2012) – SteelHouse (www.SteelHouse.com), a behavioral commerce company powering the industry’s only real time marketing solutions, announced today the company has closed an additional $8.25 million in funding from investors Qualcomm Incorporated, acting through its venture investment arm, Qualcomm Ventures(www.QualcommVentures.com), and investor, Ali El Mais of Daher Capital, who join original investors, Greycroft Partners (www.GreycroftPartners.com), Baroda Ventures (www.BarodaVentures.com) and Rincon Venture Partners (www.RinconVP.com). To date, the company has raised $15.8 million in funding.
With hundreds of clients, 65 million monthly unique visitors, and partnerships with dozens of agencies, SteelHouse has rapidly solidified the success of its real time Behavioral Commerce technology. The company plans to use the proceeds to continue driving product development and to double its staff by the end of this year. In particular, they will be recruiting new engineers, product development team members, and client account managers.
“I’m impressed at the execution and innovation SteelHouse has achieved in such a short period of time,” said Nagraj Kashyap, Vice President of Qualcomm Ventures. “SteelHouse has the team, technology and vision to build an entirely new generation of behavioral marketing solutions, and we think SteelHouse’s technology platform will significantly benefit the mobile commerce sector.”
SteelHouse revolutionized the eCommerce marketing industry with its exclusive Real Time Offers™ powered by a Behavioral Commerce Platform that analyzes LIVE shopper behavior and delivers onsite marketing campaigns in real time. The company and its technology have been recognized by top industry award competitions from coast to coast – including the ad:tech Innovation Award, Summit Emerging Media’s Leader Award, Under the Radar’s Judge’s Choice award, and was named as “One of the Best Places to Work in Los Angeles” by the Los Angeles Business journal, to name a few.
“This funding will fuel our ability to scale faster and allow us to continue our aggressive growth,” said Mark Douglas, SteelHouse President and CEO. “We look forward to building our team and bringing groundbreaking technology to market.”
SteelHouse™ (www.SteelHouse.com), a data-driven marketing technology company, brings innovative advertising solutions to brands, agencies, and eCommerce marketers. The SteelHouse team is comprised of veteran direct marketers and engineers from eHarmony, E*TRADE, Oracle and the Rubicon Project. Together, they’ve built the easiest Cloud-based Marketing Platform – SteelHouse CANVAS – one platform for acquisition and retention, which consistently keeps the same message in front of an audience through display, onsite, and social. SteelHouse reaches more than 170 million consumers a month, across hundreds of the world’s largest brands with its award-winning creative and retargeting technologies. SteelHouse is based in Culver City, California.
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