Pioneer of On-Site Behavioral Targeting Technology Closes Venture Capital Investment from MHS Capital
LOS ANGELES, August 13, 2008–magnify360, a leader in content personalization and conversion optimization, today announced the closing of the Company’s first round of venture capital investment led by MHS Capital with participation by industry veterans who have also made successful investments in Blue Lithium (Yahoo!), Right Media and BetterPPC.
magnify360 provides a software-as-a-service (SaaS) platform that maximizes the performance and ROI of websites, microsites, landing pages and the marketing campaigns that point to them. In real-time, the magnify360 Platform automatically tests and serves the most effective site content, layout and page flow to drive each visitor towards purchase, subscription or other calls to action.
“magnify360 is revolutionizing the way in which businesses understand and market to their consumers and we are excited to be part of that vision,” said Mark Sugarman, Managing Partner of MHS Capital. “magnify360 has built an impressive customer base, as a result of its innovation and the dramatic impact that the Platform has on turning site visitors into leads and customers.”
magnify360’s portfolio of clients includes businesses within the financial services, telecommunications, software and retail industries. These clients have seen as high as a 23% increase in sales in three months, lift of over 715% within a single month and a 70% decrease in cost per acquisition (CPA) in six weeks, as a result of implementing the magnify360 Platform.
“After four years of research and development refining the product with our reference customers, Intuit, Citrix Systems and HSBC Bank, we felt it was time to aggressively grow the Company to meet the demand of customer inquiries. We chose MHS Capital for their powerful network of digital media connections, their excellent reputation among entrepreneurs and their successful track record of taking bootstrapped, profitable companies to the next level,” said magnify360 CEO and founder, Olivier Chaine.
Founded in 2004, magnify360 is led by veterans of LowerMyBills.com (Experian), StrongMail Systems, Adobe, Neteller and Cadence Design. The Company is based in Los Angeles, CA with offices in Shanghai, China and this year, was one of seven companies named to Forrester Research’s independent report, Hot Companies to Watch in 2008 (April 2008).
About magnify360:
magnify360 is bringing the reality of 1-to-1 personalization to the online user experience. Based in Los Angeles, CA, magnify360 provides a software-as-a-service (SaaS) platform that enables Web sites to adapt in real-time to the behaviors of individual visitors. Marketers in lead generation, ecommerce and paid search rely on magnify360 to improve visitor engagement and conversion rates and reduce customer acquisition costs.
magnify360 will be an exhibitor at this year’s Search Engine Strategies (SES) (www.SearchEngineStrategies.com) conference in San Jose, CA, Booth # 728. SES is the premier global event series for search engine marketing and optimization.
For more information on magnify360, please visit www.magnify360.com or call 866.861.8878.
About MHS Capital:
MHS Capital is a Venture Capital fund backed by an extraordinary group of technology executives and entrepreneurs, including senior executives from every major Internet portal, and a deep roster of serial entrepreneurs building the leading software and Internet companies. MHS Capital invests in: 1) bootstrapped software and Internet companies and 2) sponsors serial entrepreneurs to do tech buyouts. Portfolio companies include: Adisn, Courttrax, Edusoft (acquired by Houghton Mifflin), Fonality, iLike, Getsmart (InterActive Corp), magnify360, Nutrisystem (NTRI), Positive Energy, Savi Technology (acquired by Lockheed Martin), Venture Beat, Verticalnet (IPO), 1stup.com (acquired by CMGI).
