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Monetate expands office, adds 8,000 square feet for product dev team

The Conshohocken-based company aims to be at nearly 300 employees by the end of the year.

Monetate is still growing, and it recently gobbled up more office space to handle that growth.

The Conshohocken-based ecommerce optimization business, which is working toward an IPO, took over 8,100 square feet previously occupied by TargetX, which shared office space with Monetate and makes software for universities. The new addition will house Monetate’s product development team, a spokeswoman confirmed. The company’s entire office now covers just over 20,000 square feet.

Monetate, which moved into its current office in the summer of 2011, currently employs about 230 and aims to employ 285 by year’s end, a spokeswoman said.

monetate office expansion

The expansion has an outdoor patio that doubles as a workspace and overlooks the Schuylkill River Trail. (Photo courtesy of Monetate)

Some of Monetate’s engineers also work out of the First Round Capital office in University City every first Friday.

Another fun fact about Monetate’s staff: many of them bike to the Conshohocken office from Philadelphia, sometimes as a group. It takes roughly the same amount of time as taking SEPTA, said developer Anthony So. Five of the nine members on So’s team ride to the office at least once a week, if not every day.

“I think it’s something to be proud of culture-wise,” So said. “It’s been a great way to get to know my teammates better and to curtail the effects of the abundant snacks in the kitchen.”

Plus, if the bike ride gets staffers sweaty, they can use the shower in the office.

monetate office

(Photo courtesy of Monetate)

Companies: Monetate

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