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Netsertive Raises $24 Million In Series C Campaign | DrivingSales News

Netsertive Raises $24 Million In Series C Campaign

December 3, 2015 0 Comments


Netsertive, the marketing intelligence platform, recently completed a round of Series C funding, raising $24 million is new capital. The campaign originally set out to raise $15 million, and closed with an additional $9 million added to the round from several partners.

North Carolina-based Netsertive, founded in 2009, enables businesses and brands to take the lead in driving local sales opportunities by using local digital marketing and channel marketing technology. Working with large businesses including FCA Chrysler, Kia Motors and Xerox, the company helps brands and their affiliates’ message remain aligned by focusing on consistency and maximizing local ad spending.

The Series C funding is led by River Cities Capital Funds, and also has participation from Babson Capital Management as well as Netsertive’s existing investors, including RRE Ventures and Greycroft Partners. “We’re very excited to close out our Series C with a strong new capital partner to accelerate the capabilities of our digital marketing platform and enable brands and local businesses to seamlessly co-market at a local level,” said Netsertive CEO Brendan Morrissey. Rik Vandevenne, Director at River Cities and recent appointee to Netsertive’s board of directors, added how “it’s a massive opportunity that is only just beginning to be realized by these brand networks, and Netsertive is positioned perfectly to take advantage of the huge growth in demand.”

A recent industry report estimates that about $14 billion in brand-funded cooperative advertising marketing funds are left unredeemed by local businesses due to inefficiencies and a lack of strategic focus. Morrissey states that Netsertive fills a void where regional partners are usually “working with digital marketing companies who don’t understand their pain points,” claiming that by acting as a liaison between the brand and local channel partners, his company is in a unique position “to truly understand and address their clients’ wants and needs.”

Along with an infusion into the company’s proprietary platform, Netsertive expects to continue hiring every month across all departments, adding to their current 200 employees. They will also be looking to invest in technologies that will help unlock funding for brands and their networks, furthering leverage in local markets.

Deloitte Fast 500 recently named Netsertive as one of North America’s fastest-growing technology companies, posting 668 percent growth over the past three years.

About the Author:

The DrivingSales News team is dedicated to breaking the relevant and the tough stories affecting car dealers. Have questions for DrivingSales News? Reach the team at news@drivingsales.com.

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