CHICAGO, May 29, 2013 (GLOBE NEWSWIRE) -- SimpleRelevance, a leading personalized digital marketing platform, announced today that the company has raised an additional $750,000 in series A financing led by Hyde Park Angels and Hyde Park Venture Partners (HPVP) with participation from i2A fund and additional angel investors including Jim Streibich. The funding will be used to hire additional developers, to expand its enterprise-level solutions and to continue investing in innovation around its personalization engine.
SimpleRelevance combines its customers' past purchase history with demographic and psychographic data to automatically send highly targeted email marketing for its clients. Everything from the subject line and time of day to the products each customer sees is individually customized. Companies integrating the technology into their marketing have seen revenue increases ranging from 40 to 400 percent as well as better customer engagement.
"SimpleRelevance is a leader in the personalized marketing space and is uniquely positioned to continue innovating how companies can use data to better communicate with their customers," said HPVP Partner Guy Turner. "We've been impressed with SimpleRelevance's significant growth over the past year and believe this funding will allow the company to keep up with growing demand from small companies, agencies, and large Fortune 500 enterprises."
In April SimpleRelevance was selected to join the 2013 summer class of TechStars Chicago, one of the top accelerator programs in the United States.
"SimpleRelevance is honored to be the first 1871 company to go through the TechStars Chicago class, and one of just 10 selected from more than 900 applicants to join the program," said SimpleRelevance CEO Erik Severinghaus. He added, "Joining TechStars Chicago allows us to execute faster, build far-reaching partnerships and effect change at an even greater rate."
Erik Severinghaus, a serial entrepreneur, founded SimpleRelevance in 2012. The Chicago company is based out of 1871, the city's largest tech co-working space. Severinghaus founded the company after seeing the growing trend in data analytics as well as the pressing need for companies to offer targeted, highly relevant marketing to their customers.
"We want to change the way the world does digital marketing," said Severinghaus. "This round of funding along with our acceptance into the TechStars programs helps us achieve this goal even faster." Prior to this round, SimpleRelevance raised previous funding rounds from i2a Fund and New World Ventures, bringing its total institutional funding to over $1 million.
SimpleRelevance is a leading provider of personalized marketing communication and combines customers' unique geographic, social and demographic data with interests and past purchase behavior to automatically send marketing with personalized product recommendations. SimpleRelevance offers marketing solutions to small and medium sized businesses as well as enterprise solutions for larger firms and agencies. To learn more or sign up visit www.simplerelevance.com.
CONTACT: Laura Boring SimpleRelevance firstname.lastname@example.org