HookLogic Raises $15.5M round to grow, Sells Off AutoHook Division
João-Pierre S. Ruth September 10, 2015
ny-primarily based HookLogic introduced Thursday it raised $ 15.5 million in a collection C spherical with new and current investors, and one after the other bought its AutoHook division to city Science, a Detroit-based developer of tool for advertising in the automobile industry.
HookLogic developed a efficiency marketing platform that brands can use to reach consumers on retail and go back and forth websites run by using the likes of Walmart, absolute best purchase, and Expedia. the most recent funding included new buyers Mousse companions and Fung Capital, as well as existing traders Intel Capital and Bain Capital Ventures.
Jonathan Opdyke, CEO of HookLogic, stated by the use of electronic mail that his company plans to make use of the brand new funds to further its expansion overseas. HookLogic already operates in Britain with such retail websites as Asda, Argos, and Boots. for the reason that its founding in 2004, HookLogic has raised some $ 39 million.
Opdyke would no longer remark, alternatively, on why the AutoHook division was once sold. The tool from AutoHook makes use of data to assist dealerships to find shoppers who need to purchase automobiles, after which make time-delicate deals to entice them into showrooms. phrases of that deal weren’t disclosed.
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