Simon Venture Group, the corporate venturing arm of commercial real estate company Simon Property Group, led a $8m series B round for US-based retail marketing platform SmarterHQ on Wednesday.
The round also included Battery Ventures, the venture capital firm that led SmarterHQ’s $7m series A round in February 2014, and several angel investors.
SmarterHQ has developed a marketing platform that helps retail businesses to analyse and understand customer data, and then use it to create personalised marketing campaigns for each consumer. The funding will support continued growth and further development of the SmarterHQ platform.
The company originally incorporated in 2010 as Modallogix, before first changing its name to Smarter Remarketer, and then its current brand SmarterHQ.
SmarterHQ raised $3.3m in a 2012 seed round, according to a regulatory filing. City National Bank provided $7m in debt financing for the company in August 2014.
Michael Osborne, president and chief executive of SmarterHQ, said: “As we continue to grow our solutions to best fit our clients and their customers, we are happy to find investors that support our goals and understand our industry.
“With the funding and support from Simon Venture Group, Battery Ventures and other investors, we will continue to grow our team and expand our services.”