Sidecar, based out of Philadelphia, with offices in New York, raised $3.1 million in funding following significant customer and market growth
PHILADELPHIA – Sidecar, a Philadelphia-based startup that transforms traditional e-commerce marketing, today announced that it has raised $3.1 million in funding led by Osage Venture Partners. This backing joins existing investors, NextStage Capital, Innovation Ventures, Gabriel Investments, Ben Franklin Technology Partners, Mid-Atlantic Angel Group, Robinhood Ventures, ARC Angel Group, and Michael G. Rubin.
Sidecar is the first big data marketing solution to automate data driven decisions for e-commerce companies, replacing traditional marketing technologies and agencies. By automatically combining website, catalog, consumer and competitive data, Sidecar delivers programmatic marketing solutions across paid search, comparison-shopping engines, product listing ads, onsite product recommendations, and email retargeting. While increasing the precision and frequency of decision-making across the entire catalog, Sidecar is able to ultimately boost profits and reduce costs from paid marketing efforts for e-commerce companies of any size.
“We are always searching for truly differentiated technologies in high growth markets with outstanding leadership, and Sidecar scored high on all fronts,” said Nate Lentz, Managing Partners of Osage Venture Partners.
“We have enjoyed tremendous growth over the past year because of the need for a solution like Sidecar. The conventional tools and agencies put retailers’ revenue at risk every day by requiring extensive human resources that cannot possibly keep up with constant and dynamic catalog and market changes,” says Sidecar CEO and Founder, Andre Golsorkhi. “Only a solution like Sidecar can consistently deliver on every opportunity in the e-commerce catalog with the precision, frequency and performance required in today’s competitive e-commerce world. We’re excited to continue investing in innovation, and the team behind the technology, to bolster our impact in e-commerce marketing.”
This proprietary technology is employed by some of the largest online retailers in the world, including several Top-100 Internet Retailers, such as Newegg, Fanatics, RueLaLa, and nomorerack. By engaging Sidecar, e-commerce companies are able to capitalize on every opportunity in the product catalog, capturing missed revenues, all while saving countless in-house man hours and eliminating wasted ad spend.
“We are always searching for truly differentiated technologies in high growth markets with outstanding leadership, and Sidecar scored high on all fronts,” said Nate Lentz, Managing Partners of Osage Venture Partners. “Sidecar is one of those businesses that became more exciting the deeper we looked. Customers state the ability to measure value from day one and love the Sidecar solution and its customer-focused team. Sidecar’s dual focus on innovation and customer value delivery permeate the culture of the business. Osage Ventures is excited to be a partner with Sidecar as Andre and his team shift into their accelerated growth phase.”
Sidecar offers a solution built from the ground up to solve the complexities of online retail marketing by helping companies acquire customers through paid search, product listing ads, and comparison shopping engines, using predictive, automated technology; converting visitor engagement through personalized product recommendations; and retaining customers through customized, merchandised emails.
The funding comes after rapid customer acquisition in recent months and significant growth in the mid and enterprise markets.
Sidecar is an e-commerce marketing technology company that delivers customer acquisition, conversion and retention through industry leading automation. Fueled by product intelligence and led by a team of award winning analysts and marketers, Sidecar leverages catalog, product, and competitive data to power predictive decision making for Paid Search, Google Product Listing Ads, and Comparison Shopping Engine advertising. Sidecar’s technology, built specifically for retail, drives online marketing for retailers ranging from $1M to $4B in annual revenue, including several of Internet Retailer‘s Top 25 retailers in the U.S. Sidecar is headquartered in Philadelphia, PA with a secondary office in New York, NY. For more information, please visit www.getsidecar.com.
ABOUT OSAGE VENTURES PARTNERS
Osage Venture Partners (OVP) is a venture capital firm located just outside of Philadelphia, PA that invests in early-stage enterprise technology companies in the Mid-Atlantic region. OVP raised its first fund in 2005, and has invested almost exclusively in enterprise software companies since that time. With over $100M under management, OVP seeks to invest in determined and creative entrepreneurs and provide them with the assistance required to build high growth businesses. For more information, visit www.osagepartners.com.
Share This Press Release