Internet Retailer – SEO Software Provider Conductor Raises $20 Million
Conductor Inc., whose software is designed to help retailers improve their rankings in natural search engine results, has raised $20 million in Series C funding, the vendor announced today. That brings the company’s total financing to $35 million, says CEO Seth Besmertnik.
“We’re going to use this capital to expand globally, make our product more local and mobile for retailers and expand our workforce by about another 50% over the next 12 months,” he says. Conductor currently employs 85 staffers, 40 of whom joined this year, he says. The company’s revenue is up more than 300% over last year and Besmertnik says he anticipates similar growth in 2012. The company would not disclose its revenue.
Conductor’s technology and acceptance in the market “embody what we look for in our portfolio companies as they move from an early stage company into the expansion stage, ready to scale operations and enter new markets,” says Noah Walley, managing director at Investor Growth Capital, which led the funding round.