Branding Brand raises $7.5 Million in Series A Funding to Support Growth in its M-Commerce Platform
Branding Brand, has reported that it has raised $7.5 million in Series A financing in its first outside round. Led by Insight Ventures Partners, the round also included Crunch Fund and Eastern Advisors. Proceeds will be used to scale customer acquisition, technology development, and operations. Branding Brand’s technology allows brands to create seamless experience with smartphones, tablets and in-store. Its current clients include American Eagle Outfitters, The Childrens Place, Costco, Ralph Lauren, Anthropologie, Sephora and others, among a long list of world leading brands.
Chris Mason, co-founder and CEO stated in the Company’s announcement that with increased internet traffic coming from mobile devices, “There is unprecedented opportunity in front of us, and we’re ready to take things to the next level.” Growth in mobile commerce is anticipated to reach explosive levels, according to ABI Research where they reported that Mobile e-commerce is anticipated to reach $119 billion by 2015 (up from $1.2 billion in 2009). ABI Research provides analysis and quantitative forecasting of trends in global connectivity and other emerging technologies.
Branding Brands platform is scalable with multiple smartphone and tablet devices and requires no IT resources, systems integration or web development. Furthermore, the platform is a Google Commerce Search, Google Wallet, and PayPal Channel Partner.
Based in Pittsburgh, Pa., Branding Brand was founded in 2008 by Chris Mason, Joey Rahimi and Christina Koshzow, three friends from Carnegie Mellon. The Company is now considered one of the largest and fastest-growing commerce platforms for mobile devices in the industry and has grown to over 100 employees.
By Melanie Marusic