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City National Provides $7MM Venture Debt Financing to Smarter Remarketer

August 27, 2014, 07:22 AM
Filed Under: Technology

Smarter Remarketer secured $7 million in venture debt financing from City National Bank. Smarter Remarketer will use this financing to provide additional capital for expanding the company’s growing sales and marketing activities. This financing comes after Smarter Remarketer secured $7 million in venture funding provided by Battery Ventures earlier this year.

In just four years since its founding, Smarter Remarketer has demonstrated impressive year-over-year growth and success with some of the nation’s largest retail brands, including Eddie Bauer, Finish Line and eBags, among many others. City National Bank’s financing will be used to accelerate Smarter Remarketer’s growth through 2014 and expand the company’s customer intelligence platform.

“The Smarter Remarketer team is thrilled to be working with one of the top venture debt banks in the world,” said Howard Bates, CEO of Smarter Remarketer. “Combining this financing with our previous capital investment made by Battery Ventures gives us the perfect combination of financial partners to continue to grow our business. City National Bank spent considerable time understanding our capital needs and tailored a facility that enables us to continue focusing on expanding our core product platform and evolving our capabilities to help marketers more effectively and efficiently engage their customers.”

“We see tremendous potential in Smarter Remarketer and are pleased to be working with them,” said Bill Sweeney, east coast regional managing director for City National Bank. “Not only does the company have impressive entrepreneurial senior leadership, including multiple industry veterans, but the technology is innovative and relevant in the rapidly expanding global marketing automation and customer intelligence market.”

Smarter Remarketer is a customer-centric behavioral automation platform which enables retailers to create highly advanced, precisely targeted segments of visitors and customers. The company’s Big Data technology allows retailers to send intelligence-driven, triggered communication to visitors through multiple channels in order to reengage and drive sales. Smarter Remarketer’s vendor independent solution helps retailers to optimize customer lifetime value while making the shopping experience more personalized for consumers.

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