Clutch raised $5.25 million and acquired a Chicago company - Technical.ly Philly

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Jan. 12, 2017 12:08 pm

Clutch raised $5.25 million and acquired a Chicago company

The acquisition of Persio will bring its headcount to 75.
Inside Clutch’s 7,500-square-foot office in the Ambler Boiler House.

Inside Clutch's 7,500-square-foot office in the Ambler Boiler House.

(Courtesy photo)

Update: This story was updated with additional information about the source of the funding round (1/12/17, 12:45 p.m.)

Ambler, Pa.-based marketing company Clutch announced Thursday the acquisition of Chicago-based mobile marketing company Persio for an undisclosed amount.

Cofounder Ned Moore will remain as the combined company’s CEO, which will retain the Clutch name. Between the company’s Ambler HQ and Persio’s existing offices in Chicago, Clutch will grow to 75 employees. (We weren’t immediately able to get a headcount pre-acquisition but in May 2015, Clutch employed 45.)

“With this acquisition, the Clutch platform is the first to support the marketer with a comprehensive view of customers across all buying and marketing channels,” Moore said in a press release. “The addition of Persio’s intelligent mobile platform will allow us to deliver these experiences instantly and with greater context.”

In addition to acquiring Persio, venture-backed Clutch also announced a $5.25 million round of funding and added a new seat on its board of directors which will be occupied by Philly-based Olivam Partners CEO Larry Stone, the single investor behind the round.

Previous investors in the company include Radnor, Pa.’s Safeguard Scientifics, which has been consistently investing in the company since 2014. This latest raise brings the company’s total fundraising to nearly $20 million.

“Clutch has driven tremendous growth with its combination of comprehensive marketing technology, customer data management, and hands-on partnerships with clients,” Stone said. “As a board member, I’m dedicated to helping the company build on that momentum and grow its platform.”

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