Enterprise e-Commerce analytics platform Profitero has raised $20 million in a Series B investment round led by Scaleworks, with participation from Conviction Capital. The company also installed a new executive leadership team.
CEO Bryan Wiener was previously Executive Chairman, CEO and Co-Founder of Innovation Interactive from 2004 to 2018. Innovation Interactive, which was acquired by Dentsu in 2010, was the parent of digital agency 360i; IgnitionOne, a SaaS performance marketing company; and behavioral optimization platform Netmining. More recently, Wiener was the CEO of Comscore, an audience and advertising measurement platform.
Profitero’s President Sarah Hofstetter rose from SVP to chairwoman of 360i over the course of 13 years, and she was President of Comscore under Wiener. CTO Sandor Palfy is the former CTO of LogMeIn, where he led the corporate IT and security teams and provided technology vision and development for a portfolio that included LastPass, LogMeIn Central, LogMeIn Pro and GoToMyPC.
For three months prior to being named to their positions, Wiener, Hofstetter and Palfy served as special advisors to Profitero’s board, where they developed a growth strategy and product roadmap.
“With Bryan, Sarah and Sandor on board, Profitero has the veteran leadership it needs to remain the leading global innovator in the market,” said Lew Moorman, Co-Founder and General Partner at Scaleworks in a statement. “E-Commerce was already on a major growth trajectory, but COVID-19 has sent it into hyperdrive by forcing consumers to adopt online ordering behaviors at a much faster rate. These major shifts in digital purchase behavior have created a large opportunity for Profitero.”
Brands such as Abbott Laboratories, Adidas, L’Oréal, General Mills and Molson Coors use Profitero’s proprietary technology and algorithms to gain actionable insights that can improve product content, search placement, ratings and reviews, availability, assortment and pricing.