Clarus Commerce, a US-based customer management platform backed by bank Wells Fargo’s venture capital affiliate, Norwest Venture Partners, has been acquired by a partnership including Trivergance, Falcon Investment Advisors and Landon Capital Partners.
Financial terms of the transaction have not been disclosed.
Founded in 2001 as Clarus Marketing Group, the company operates a consumer loyalty platform with its flagship product, Freeshipping, offering features such as free delivery, cash back, price comparison and guarantee across 1,500 e-commerce businesses.
Norwest invested an undisclosed sum in Clarus in a 2011 deal that appears to have been Clarus’ first and only funding round. BBVA Compass Bank and Whitehorse Capital provided senior debt financing for the acquisition.
Tom Caporaso, chief executive of Clarus, said: “We had five great years with Norwest, which includes collaborating closely with Jon Kossow and David Su who have been active board members and great partners.
“Not only did they support us in materially growing the company to operational maturity, but we substantially grew both the top and bottom lines.”