WinBuyer Closes US$6.9 Million in Series A Investment Led by Pitango Venture Capital, Joined by Giza Venture Capital
By Winbuyer, PRNESunday, November 22, 2009
TEL AVIV, Israel, November 23 - WinBuyer, the leader in the growing market for Onsite Comparative Pricing
(OCP) applications announced today the completion of a US$6.9 Million first
round investment led by Pitango Venture Capital alongside Giza Venture
Capital. WinBuyer's OCP solution accelerates consumer purchasing behavior and
maximizes income for online retailers by enabling price comparisons at the
point of sale: merchants' product pages.
(Logo: www.newscom.com/cgi-bin/prnh/20091119/LA14371LOGO)
With the investment, Isaac Hillel, Pitango Managing Partner and Ori
Israely, Giza Managing Director, join WinBuyer's Board of Directors.
Additionally, Dan Clarke has been appointed to the role of CEO. Mr. Clarke
has previously held positions as Senior Director at Intel US, and CEO of
Vcommerce, an ecommerce platform used by leading online retailers.
WinBuyer was founded in 2005 by Miki Balin and Alon Weinberg, with
offices in Tel Aviv, Israel, Scottsdale, Arizona and London, England. To
date, WinBuyer's unique technology has been implemented by more than 200
online merchants in the US and UK.
WinBuyer recently announced that Overstock.com, an ecommerce market
leader, will begin offering OCP in time for the holiday season, giving their
consumers the ability to make more informed buying decisions by comparing
other merchant's product prices, prior to making a purchase, without leaving
the Overstock.com site. Other marquee WinBuyer clients include: Ritz
Interactive, GameQuest and Hayneedle.
"We are very happy to have Pitango and Giza as new investors in the
company," said Dan Clarke. "The investment allows WinBuyer to expand its
market presence within the U.S. and further into international markets,
exponentially growing the solution's availability to online retailers."
"WinBuyer's unique solution hits on a new dimension of the consumer's
purchasing experience and provides added value to online merchants," remarked
Isaac Hillel. "We see high potential in both concept and product. We are
delighted by the opportunity to work with such an experienced management team
and to assist them in achieving their goals and targets."
Ori Israely concludes, "We are pleased to join a group of founders with
such a high level of expertise in ecommerce. We have been following the
Internet sector since its beginning and have seen a growing need in the
ecommerce market for more sophisticated price comparison solutions. WinBuyer
has a unique technology that provides an answer to this need. We are
extremely excited to be involved in this opportunity."
About WinBuyer www.winbuyercorp.com
WinBuyer provides retailers with an Onsite Comparative Pricing (OCP)
application, which enables retailers to accelerate consumer purchase behavior
by embedding comparative shopping information into a retailer's site at the
point of sale. Over 200 merchants are realizing how WinBuyer can benefit them
through increased sales conversion, greater average order size, improved site
stickiness and enhanced consumer confidence. WinBuyer was founded in 2005 and
is headquartered in Tel Aviv, Israel, with offices in Scottsdale, Arizona and
London, England. For additional information on WinBuyer, Inc., please contact
press@winbuyer.com or visit www.winbuyercorp.com.
About Pitango Venture Capital www.pitango.com
Pitango Venture Capital, the leading venture capital firm in Israel, has
been investing in technology entrepreneurs since 1993. With offices in Israel
and Silicon Valley, California, Pitango currently manages several venture
funds totaling over US$1.3 billion in committed capital invested in more than
100 companies. Pitango invests in high-growth companies in various stages,
from seed and early stages to growth and late-stage, and supports them as
they grow. Pitango's investment focus includes: Communications; Networking &
Storage; Wireless, Cellular and Mobile technologies; Enterprise Software,
Internet and Media; Healthcare & Life Sciences, and Clean Technologies.
About Giza Venture Capital www.gizavc.com
Giza Venture Capital established in 1992, is a pioneer investor in seed
and early-stage technology companies and currently manages five funds
totaling over US$600 million. Giza's investment professionals have a wealth
of expertise and experience in Communications, Semiconductors, Information
Technology, Enterprise Software, Life Sciences, CleanTech, Internet and
Media. This expertise empowers the team's decision-making and problem solving
capabilities and accounts for the Fund's hands-on approach in working closely
with its portfolio companies. Giza has invested in 93 companies and its
vision in recognizing future technology leaders has led to over 30 successful
exits. Giza also has a seed stage investment plan called the Ofek Program
whose goal is to secure investment in high-quality seed opportunities at the
earliest possible stage. The Fund brings significant added value to its
portfolio companies post-investment through involvement at board level as
well as providing active support in strategy, marketing, financial and
personnel-related decisions.
Eyal Keren of WinBuyer, +1-408-849-4763, eyal at winbuyer.com
Tags: Israel, Tel aviv, United Kingdom, Winbuyer