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Beverley’s ecommerce startup Searchandise Commerce raises $7 Million April 18, 2010

Posted by HubTechInsider in Startups, Venture Capital.
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Beverley’s ecommerce startup Searchandise Commerce raises $7 Million from a group of investors lead by new investor Madrona Venture Group. The financing also had backing from return investors Cloquet Capital Partners LLC, DFJ Gotham Partners, Draper Associates, Milestone Venture Partners, Inflection Point Ventures and Wheatley Partners. As part of the funding round, Madrona managing director Brian McAndrews will join the Searchandise board of directors.


The Beverly-based company, which focuses on search-based e-commerce, said in a press release that it plans to direct the funding toward growing the sales and marketing, as well as operations.


Searchandise Commerce offers a product ad network and uses a cost-per-click system of placing searches on the company’s SearchNet network of comparison shopping engines and retailers. Searchandise has changed its name from Guidester Inc. and shifted its focus from its previous role as a navigational tools company.


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