Monetate

Monetate, Inc.
Private
Industry Software, Website Optimization
Founded 2008
Founder David Brussin, David Bookspan
Headquarters Conshohocken, Pennsylvania
Area served
 Worldwide
Key people
 Lucinda Duncalfe, CEO
Bob Lawson, CFO
Number of employees
 220 (as of April 2014) [1]
Website http://www.monetate.com

Monetate, the global leader in personalization software for consumer-facing brands, enables marketers to create truly individual experiences that surprise and delight every customer, increasing engagement and improving performance.

Monetate’s approach to personalization starts with the understanding that each individual is unique, and instantly chooses the best interaction for each one. Unlike testing, which identifies the best choice for everyone, or segmentation, which defines the best choice for a group of people, Monetate’s 1-to-1 personalization engine reflects the full diversity of human beings and creates an experience for each one, in each moment.

In order to deliver true 1-to-1 experiences, Monetate’s platform is: Open, so marketers can use all of their data wherever it sits, push a decision to any touchpoint and pull the results back into their data/analytics infrastructure Independent, so you can use any best of breed solution in your marketing stack and not be tied to one vendor’s offerings Real-time, to enable interactions based on a customer’s in-session behavioral and event data that get their attention in increasingly narrow buying windows Bionic, giving the creative marketer the power to manage a machine learning engine and operate at 1-to-1 scale, for real

Founded in 2008, with offices in the U.S. and Europe, Monetate is used by leading brands around the world and influences billions of dollars in revenue every year for QVC, Newegg Inc., J. Crew Group Inc., The North Face, and hundreds of other market leaders.

History

Headquartered in Conshohocken, Pennsylvania with offices in Palo Alto and London, England, Monetate was founded in 2008 by David Brussin and David Bookspan.

In January, 2008, Monetate raised a $600,000 seed round from First Round Capital.[2]

In December, 2010 Monetate raised $5.1 million in Series A round funding, led by First Round Capital and FLOODGATE.[2]

In August, 2011, Monetate raised $15 million in Series B round funding, led by OpenView Venture Partners.[2]

In February, 2013 Monetate raised $17.3 million Series C round funding. In December, 2013, Monetate raised $8 million in Series C round funding from Common Fund, First Round Capital, FLOODGATE, Lead Edge Capital, and OpenView Venture Partners.[3]

In April, 2014, Bob Lawson became Monetate's Chief Financial Officer.[4] In July, 2014, Monetate had about 230 employees.[5] Lucinda Duncalfe was named CEO in August, 2014.[4]

Founders

David Brussin

David Brussin's ecommerce career began in 1996 at InfoSec Labs,[5] a security company he co-founded. He then co-founded ePrivacy Group, Inc. In 2004, he co-founded TurnTide, a company that provided anti-spam software.[5] In June 2012, Brussin was named Entrepreneur of the Year by Ernst & Young.[6] In September, 2012, Brussin was elected to the board of directors of Shop.org.[7]

David Bookspan

David Bookspan is co-founder and director of Monetate. He is also one of the founding partners of DreamIt Ventures, a venture capital firm. He is also the founder, president, and CEO of MarketSpan, Inc., a software utility for legal professionals.

Products

The Monetate platform for websites and mobile apps is delivered via the software as a service (SaaS) model.The company currently offers two products: Monetate Intelligent Personalization Engine™ and Monetate Test & Segment™.

Summit

Monetate Summit is an annual event held in Philadelphia. The fifth annual Monetate Summit 2015 was held at the Philadelphia franchise of the Loews Hotel. Speakers included Scott Galloway of L2, Inc,[8] George Blankenship of Apple, Inc and Tesla Motors,[8] Michelle Kelly, EVP of brand distribution, marketing, and merchandising at Lily Pulitzer, [8] and Sucharita Mulpuru, Vice President and Principal Analyst at Forrester Research.

Awards and Honors

In October, 2012, Monetate was named 8th fastest-growing private company in the Philadelphia region.[9]

In November, 2012, Monetate was named one of the Best Places to Work in Pennsylvania.[10]

References

  1. ↑ "From two employees to 220, in only six years". Fortune. 17 April 2014. Retrieved 18 May 2016.
  2. 1 2 3 "Monetate - CrunchBase".
  3. ↑ "Dec 5, 2013: Monetate - Funding Round - Series C - CrunchBase".
  4. 1 2 "Monetate Appoints New CEO Lucinda Duncalfe to Help Company Meet Growing Demand for Digital Personalization - Monetate".
  5. 1 2 3 "Q&A: David Brussin of Monetate".
  6. ↑ "Entrepreneur of the Year awards include CEOs of Monetate, Synthes".
  7. ↑ admin (18 February 2014). "Shop.org Board of Directors".
  8. 1 2 3 "Lilly Pulitzer, Keurig, DirecTV, Office Depot and More to Present at Monetate Summit 2015 - The Business Journals".
  9. ↑ "The region’s fastest-growing private companies: The Philadelphia 100 (slideshow) - Philadelphia Business Journal".
  10. ↑ "2012 Best Places to Work winners announced · Team PA Foundation".
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