E-commerce company mySimon Inc has received $21m in a round of funding from Brentwood Venture Capital, The Sprout Group and Marquette Venture Partners. The Santa Clara, California-based company operates a web-based comparison shopping service that allows access to more than 1,300 merchants and provides real-time information on products available online in various categories. It also boasts an application, called PocketShopper, which allows users of 3Com’s new Palm VII device to access the mySimon shopping service wirelessly.
As part of the financing deal, Jeff Brody, general partner of Brentwood Venture Partners, and Alex Rosen, vice president of The Sprout Group, will join the board of directors of mySimon. The one-year-old company says it will use the investment to support a national branding campaign as well as its continued expansion.
Meanwhile, internet marketing automation software house Annuncio Software Inc, said it grabbed $5.5m in financing of its own, bringing the total amount invested in the company to $12.2m. The Los Altos, California-based company’s third round of funding was led by existing backers Norwest Venture Partners and Advanced Technology Ventures, and also included the company’s first foreign investment – from Japan’s Mitsubishi Corp.
Annuncio says it will use the financing to continue to build its sales and marketing initiatives and support the company’s overall growth. Mitsubishi’s involvement comes as part of Annuncio’s strategy to expand globally and the two companies will work together to pursue business opportunities in Japan and other Asian markets.
Founded in 1997, Annuncio develops and markets the Annuncio Live internet marketing automation product, which it launched late last year, and provides e-commerce consulting services. The company claims to have partnerships with systems integrators, packaged application vendors and interactive marketing agencies.
