Convertro Raises $5 Million in Series B RoundMonday, January 14, 2013
Convertro, which developed a technology platform that enables marketers to know all of the advertising and marketing that led to a sale, on Monday said that it closed a $5 million funding round that it will primarily use to ramp up its sales and marketing in New York City and overseas.
The Santa Monica start-up said the Series B round was led by Bessemer Venture Partners and DAG Ventures. Convertro’s technology uses a proprietary tag system on clients’ website, and doesn’t employ software “cookies” that can be blocked or deleted by users. Clients can study the resulting data to see how customers interacted with their website.
“Our engine delivers an average reduction in cost per sales lead between 7 and 12 percent, as well as subsequent boosts in revenue,” said Chief Executive Jeff Zwelling, a serial entrepreneur whose previous companies include YLighting, which sells high-end home lighting online, and EchoSign, a digital signature company
The company in 2009 raised $5 million in its Series A round, also led by Bessemer Venture.