Netsertive, (http://www.netsertive.com), a marketing technology company that automates unified brand-to-local digital marketing, announces they have closed on over $10 million in financing, with over $7 million in the form of a credit facility with Square 1 Bank and the balance in equity investment from existing investors. These funds will fuel further growth investments for Netsertive in technology and team as it continues its strong trajectory. The company's momentum recently garnered it national recognition by landing ' for the second year in a row - on the Inc. 500 list of America's Fastest Growing Companies. Netsertive has built a world-class team of over 130 team members and holds key relationships with companies such as Microsoft, Yahoo, Google & others. Its Google relationship is notable for being among a small number of handpicked Google Premier SMB Partners in North America.
'This latest funding enables us to continue our strong growth as we empower product brands and local businesses to work together in executing the last mile of marketing, something that has become both incredibly complex and incredibly valuable in the digital age,' said Brendan Morrissey, CEO & Co-founder of Netsertive.
The company is addressing a massive demand to more efficiently connect national product brands and their local channels digitally, move traditional media spend to data-driven digital channels and more effectively leverage underutilized cooperative marketing ('co-op') budgets ' which now total over $22 billion annually in the U.S. ' in local markets. With all local marketing spending in the U.S. now exceeding $130 billion and rapidly shifting from traditional media to digital, Netsertive is strongly positioned as a major player in its target markets. Over $20 billion of the local marketing spend is already digital and is projected to grow to $45 billion by 2017.
Netsertive's Digital Channel Marketing platform leverages proprietary technology to harness the insights and collective wisdom of the industry-retailer-brand network to drive targeted, distributed marketing capabilities across multiple digital channels. The company focuses on key vertical segments; delivering both the channel marketing 'enablement' as well as the local digital marketing execution for Automotive, Audio-Video, Home Automation, Major Appliances, Furniture, Dental and Optometry practices. Netsertive's vertical approach delivers stronger results than typical generalist competitors, making it a competitive advantage for brands to support their retailer networks.
Serta, La-Z-Boy, Electrolux, Frigidaire, Chrysler, Jeep, Epson, Samsung & Lutron are among the growing number of Brand-Retailer networks that Netsertive powers with distributed marketing capabilities, ensuring that their retailers are equipped with turnkey, brand-compliant marketing to be found online by quality in-market shoppers. According to BIA/Kelsey, 97% of Internet users use online research prior to making local purchases, making a successful brand-retailer relationship critical.
'Many Brands today want to be found online locally but struggle to help their retailers into the digital age,' Morrissey continued. 'Our technology and vertical focus solve key channel problems that empower both sides of the relationship to win that local fight.'
About Netsertive
Netsertive empowers product brands and local channel partners with a unified digital marketing presence to drive local sales. Based in Research Triangle Park, North Carolina, the company uses its Digital Channel Marketing Platform and proprietary Learning Engine technology to connect local customers to the channel partners of its brand clients. Netsertive takes the complexity out of digital channel marketing and enables local businesses, multi-location retailers and global brands take the lead ' by making every marketing dollar work harder and every message reach farther. Founded in 2009, the company has a history of rapid growth, a world-class team, and the strength of venture capital funding from top firms RRE Ventures, Harbert Venture Partners and Greycroft Partners. Additional information about Netsertive is available at http://www.netsertive.com.
About Square 1 Bank
Square 1 Bank is a full service commercial bank dedicated exclusively to serving the financial needs of the venture capital community and entrepreneurs in all stages of growth and expansion. Square 1's expertise, focus and strong capital base provide flexible resources and unmatched support to meet our clients' needs. Square 1 has offices coast-to-coast in Austin, the Bay Area, Boston, Denver, Durham, Los Angeles/Orange County, New York, San Diego, Seattle, and Washington, DC. For more information, visit http://www.square1bank.com.