12/16/2006
E-commerce solution provider Mercado Software secured $11.5 million in a new funding round
E-commerce search solution provider Mercado Software has secured $11.5 million in a new funding round from The Challenge Fund, Consensus Group, Pitango Venture Capital, Eucalyptus, Star Ventures and Valley Venture Capital. The financing includes a line of credit by US venture funding institution Lighthouse Capital Partners.
Mercado gained phenomenal momentum in 2006, as e-commerce begins to take a firm and permanent hold in EMEA and Asia Pac, according to Corey Leibow, president and CEO of Mercado. The latest round of funding will support the company plans to expand into new markets in 2007 and continue to innovate its product line with features that enhance its role in the e-commerce ecosystem.
Mercado is providing innovative and effective e-commerce search & navigation and advanced merchandising solutions to leading US retailers. Mercado currently has more than 50 customers, including Macy's, JC Penney, Sears, Tower Records, and Williams-Sonoma.
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