Sidecar raises $8 million Series B - Technical.ly Philly

Business

Nov. 20, 2015 1:47 pm

Sidecar raises $8 million Series B

A roster of local investors is backing the Center City ecommerce marketing company in a big way.

Inside Sidecar's Center City office.

(Photo by Juliana Reyes)

Sidecar, the Center City ecommerce marketing company, raised an $8 million Series B from Boston-based venture capital firm Ascent Venture Partners and a whole slate of local investors.

It’s Ascent’s first investment in a Philly company, according to CEO Andre Golsorkhi’s blog post announcing the round.

For the people who say there’s no local venture dollars, check out this list of local investors who participated in the round, as per Golsorkhi’s blog post (we saw many of these investors at venture capital conference IMPACT).

Osage Venture PartnersMichael Rubin, former CEO of GSI CommerceSashi Reddi, former CEO and founder of AppLabs; Jonathan Brassington, CEO of LiquidHub; Paul Melchiorre, President of iPipeline; Michael Phelan, former CEO of SevOne; Scott Tarte, CEO of SparksRichard Vague, former CEO of Energy Plus and First USA; Tony Ibarguen, CEO of Quench; NextStage Capital; Robin Hood Ventures; Ben Franklin Technology Partners; Innovation Capital Advisors; and ARC Angel Fund.

Advertisement

Sidecar has largely been backed by local investors. It raised $4.1 million in 2014 from local investors. The company has raised $15 million to date, said spokeswoman Marifran Ritchie, who used to run communications at fellow local ecommerce marketing company Monetate.

The company plans to use the money to double its staff of nearly 100 and develop products for Google Shopping. That’s a lot of growth: Sidecar already doubled its staff in 2015, Golsorkhi wrote in his blog post.

Sidecar won Tech Startup of the Year at PACT’s Enterprise Awards earlier this year.

Organizations: Sidecar
-30-
LEAVE A COMMENT

Advertisement

Cool office alert: Turn5’s new HQ has a freakin’ bowling alley

Turn5 looks to beef up staff at new Chester County HQ

Chester County gets $4-million fund to boost startup activity

SPONSORED

Philly

Vistar Media’s tech stack is not for the faint-of-heart

Chesterbrook

Deacom

Inside Sales Representative

Apply Now
Center City, Philadelphia

IntegriChain

Senior Business Analyst

Apply Now
Philadelphia, PA

IntegriChain

Senior Data Engineer

Apply Now

How will new CEO Matt Kull steer Comoto Holdings?

How a quick text to a lawyer helped this startup nab $800K

Bootstrapped no more: Benjamin’s Desk raises $1.2M Series A

SPONSORED

Philly

MakeOffices’ new location is ripe for startup collaborations

Chesterbrook, PA

Deacom

Enterprise Software Sales Representative

Apply Now
Philadelphia

Azavea

Software Engineer, Geospatial Insights Team

Apply Now
Philadelphia

Clarivate Analytics

Senior UI Developer

Apply Now

Sign-up for regular updates from Technical.ly

Do NOT follow this link or you will be banned from the site!