SiteSpect Scoops Up $13M After Decade of Bootstrapping
Gregory T. Huang
It’s a strategy we’ve viewed prior to, from tech companies like Wayfair. enroll loyal clients, make them chuffed, bootstrap yourself to profitability, enlarge your crew—after which, after 10 years, take outdoor funding so that you could develop quicker.
SiteSpect, an online and mobile advertising instrument company based totally in Boston, is following that model, albeit at a smaller scale than Wayfair. founded in 2004, the company has simply taken its first out of doors cash, in the form of $ thirteen million from growth fairness firm NewSpring Capital. the money buys NewSpring a minority stake in SiteSpect.
SiteSpect is among the beneath-the-radar tech firms in Boston. It has been quietly profitable for a very long time. It plays in a sector that has actually matured previously few years: web page and cellular content material optimization and testing. the fundamental thought is to assist retailers, banks, and different corporations make their advertising channels faster, extra environment friendly, and more beneficial. SiteSpect’s giant shoppers have integrated Walmart, Expedia, Staples, and, sure, Wayfair.
the company is led via founder and CEO Eric Hansen, who instructed me about SiteSpect’s growth and international strategy back in 2012. It seems like the new funding will lend a hand the company beef up its place in digital advertising, amid numerous big rivals like Adobe and HP. It additionally sounds like Hansen is being cautious not to give away an excessive amount of keep an eye on to outside traders—a move that would pay off down the highway.