SAN FRANCISCO--(BUSINESS WIRE)--PowerReviews (www.powerreviews.com), a leading provider of award-winning social commerce solutions, today announces it has secured ten million in financing, bringing its total venture funding to $37 million. The round is being led by Four Rivers Group, with participation from new investor Woodside Fund and all existing investors, including Menlo Ventures and Tenaya Capital. PowerReviews will use the additional funding to extend its product development efforts and expand its sales organization.
“The adoption of social tools in the enterprise is accelerating at a rapid pace, and PowerReviews, with the industry’s most widely used – and highest performing – social commerce platform, is perfectly positioned to capture this opportunity,” said Pehr Luedtke, CEO of PowerReviews. “Today’s announcement of additional funding is validation of our rapid revenue growth and market leadership.”
PowerReviews provides retailers and brands with the ability to collect, organize and analyze user-generated content using its unique structured data approach. PowerReviews has demonstrated ongoing innovation in this area, ranging from solutions that drive organic search traffic on a retailer’s product page to those that increase the volume and coverage of customer reviews. In the past 20 months PowerReviews has innovated on Facebook’s Open Graph through Facebook OnsiteTM, the industry’s first solution suite that brings the Facebook experience and Fan acquisition into the consumer’s product review process.
“With the advent of social commerce, the way retailers and brands communicate and interact with consumers has been transformed,” said Farouk Ladha, Managing Partner, Four Rivers Group. “With a track record of innovation complemented by its unique multi-tenant SaaS technology, I look forward to PowerReviews’ continued growth and category leadership.”
In early April 2011, PowerReviews was awarded its second patent relating to its Software-as-a-Service (Saas) delivery method, which makes it possible to display user-generated content on brands’ product pages in a format that is easily crawled by search engines. PowerReviews has also recently been recognized as an AlwaysOn OnDemand Top 100 winner and named to the JMP Securities’ Hot 100 List as Leading Privately-Held Software Company.
“PowerReviews’ seasoned team, pioneering technology and clear vision make it not only a major force in the social commerce space but also an ideal investment for our fund,” said Vince Occhipinti, Woodside Fund co-founder and managing director. “We look forward to working closely with PowerReviews in the coming months and years, using its current offerings and successes as a springboard for future, exponential growth.”
About PowerReviews®
PowerReviews is the leading provider of social commerce software-as-a-service solutions to global retailers and brands. The company's unique structured data approach to collecting, organizing, and analyzing user-generated content significantly boosts product sales and customer engagement. PowerReviews is live on over 5,000 websites - across 13 languages in 21 countries - including Staples, Drugstore.com, Room & Board, ESPN, Neutrogena, Quicksilver, and Jockey.
About Four Rivers
Four Rivers Group is an expansion stage venture capital firm that invests in high-growth, market leading technology companies globally. Founded with the needs of the entrepreneur in mind, we provide custom, flexible financings. We lead small or large rounds and have no minimum threshold for check size or ownership percentage. Sample investments include Aerohive, Availink, Carbonite, FireEye, GameFly, Sabrix (Thomson Reuters) and Return Path.