7 Billion People secures $3 Million in series B financing

Austin: 7 Billion People, a provider of web personalization software that drives increased conversions on e-commerce websites, has announced the completion of its second-round of financing, totaling $3 million, in two tranches. Austin-based venture capital firm SmithCo Investments led the round of funding, which will be used to expand sales and marketing efforts and to further enhance 7 Billion People's software portfolio.

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With this latest funding, 7 Billion People has now raised more than $6 million. "In this challenging economic environment, it is even more important for ecommerce retailers to maximize the opportunity to close every customer they bring to their website," said Dan Smith, Managing Partner at SmithCo Investments. "7 Billion People's unique approach to personalize the web-shopping experience using behavioral science drives increased revenue for eretailers without increasing traditional marketing expenditures. The rapid and proven ROI delivered to e-commerce websites made this a compelling investment."

7 Billion People is the developer of MarketMaestro software that drives significant increases in online sales and e-commerce revenues. The software analyzes e-commerce customers' website actions and derives detailed behavioral 'Portraits' that contain previously unavailable information on how each customer prefers to experience the web-shopping session. E-commerce marketers can use this information to align outbound marketing and website personalization to increase conversion rates.

In addition to this investment, Dan Smith, Managing Partner at SmithCo Investments, and Kirk Lundblade of Extension Advisors, will take seats on the 7 Billion People board.