Guidester rebrands as Searchandise, raises $7.5M
Guidester, a search merchandising company, has rebranded itself as Searchandise Commerce and raised a $7.5 million third round of funding, according to VentureWire. The company also has a new home-base, moving its headquarters from New York to Beverly, Mass.
Using Searchandise’s core product HitList, manufacturers can make cost-per-click bids to retailers to obtain a high-profile spot on their search results. The retailer gets extra revenue, the merchandiser gets the online equivalent of a prominent in-store display.
Searchandise’s chief executive John Federman joined the company in December. Since then, he’s been bringing over a new executive team, mainly from his old company eStara.
The round was led by new investor Cloquet Capital Partners (which also invested in eStara), with participation from existing investors DFJ Gotham Ventures, Wheatley Partners, Milestone Venture Partners, Inflection Point Ventures and Tim Draper.
Next Story: Healthcare analytics company MedeFinance raises $50M
Previous Story: Teen social network myYearbook is growing fast and it just raised $13M, but is it more than a teen site?
About the Author, Anthony Ha
Anthony is VentureBeat's assistant editor, as well as its reporter on enterprise technology, cloud computing, and tech policy. Before joining VentureBeat in 2008, Anthony worked at the Hollister Free Lance, where he won awards from the California Newspaper Publishers Association for breaking news coverage and writing. He attended Stanford University and now lives in San Francisco. Reach him at anthony@venturebeat.com. You can also follow Anthony on Twitter.