Early-stage venture capital investor Upfront Ventures, based in Santa Monica, led a $14 million investment round for MetaCx, an Indianapolis-headquartered developer of e-commerce management software.
MetaCX was incubated and launched this year via another Indianapolis outfit, venture capital firm High Alpha Studios. The firm also launched in 2000 digital marketing and analytics firm ExactTarget Inc., founded by High Alpha Studios managing partner Scott Dorsey.
Upfront Ventures’ investment in MetaCX was led by partner Kobie Fuller, who will join the MetaCX board alongside the firm’s Chief Executive Scott McCorkle and Dorsey. Fuller’s previous work includes sourcing and/or leading investments in various SaaS companies including San Francisco-based AdRoll Inc. and Utah-based educational software developer Instructure Inc. Fuller also led an investment round for ExacTarget, which was acquired by Salesforce.com Inc. in August 2013 for $2.5 billion.
“The MetaCX team is building a truly disruptive platform that will inject data-driven transparency, commitment and accountability against promised outcomes between SaaS buyers and vendors,” Fuller said. “Having been on the journey with much of this team while shaping the (marketing technology) industry with ExactTarget, I’m incredibly excited to partner again in building another category-defining business with Scott and his team in Indianapolis.”
Tech reporter Samson Amore can be reached at email@example.com or (323) 556-8335. Follow him on Twitter @samsonamore.