PRESS RELEASES
Mercado Software Completes a New Round of Funding to Support Global Expansion and New R&D Initiatives
Latest financing round welcomes two new investors with a total of $11.5 million in financing.
PLEASANTON, CA, December 14, 2006 - Mercado Software, the leading provider of e-commerce search, navigation, and merchandising solutions, announced today that it has secured $11.5 million in funding, which will support plans to expand into new markets in 2007 and continue to innovate its product line with features that enhance Mercado's role in the e-commerce ecosystem. Israeli-based Venture firm The Challenge Fund and British investment firm Consensus Group are first-time investors in Mercado Software. Other participants in this round were VC funds Pitango Venture Capital, Eucalyptus, Star Ventures and Valley Venture Capital (formerly Mofet), who are repeat investors in the company. The financing includes a line of credit by US venture funding institution Lighthouse Capital Partners.
"Mercado gained phenomenal momentum in 2006, and this latest round of funding is a strong indication of the confidence our investors have that Mercado is executing on our vision," said Corey Leibow, president and CEO of Mercado. "As e-commerce begins to take a firm and permanent hold in EMEA and Asia Pac, Mercado will be there as an e-commerce market and thought leader – with products that increasingly provide value to businesses investing in the online channel."
"Mercado's management team is executing on our plan very effectively," said Chemi Peres, Managing General Partner & Co-Founder of Pitango Venture Capital, who serves as Chairman of Mercado's Board of Directors. "The success we've seen in 2006 combined with overall momentum in the market gives us every reason to believe Mercado will continue to win consistently, expand into and dominate new markets, and innovate with new products – and indeed have a great influence on the e-commerce market.
About Mercado Software
Mercado is the leading e-commerce search & merchandising solution specialist for multi-channel retail and B2B organizations. By enabling a superior buying experience and equipping business managers with a powerful platform on which to execute merchandising strategies, online businesses can aggressively grow revenue and foster customer loyalty. Sears Holdings Corp, Williams-Sonoma, Inc., JCPenney, Macy's, ShopNBC, and OfficeMax are some of the companies benefiting from Mercado's solutions. For more information about Mercado Software, please visit www.mercado.com or call (888) 376-1400.
Media Contact:
Mark Shapiro
858-573-0736
mshapiro@davismarrin.com
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