RealTime IT News

DealTime.com Secures $20 Million in Financing

Online comparative shopping service DealTime.com secured $20 million in a second round of financing led by Nomura International plc.

The round included a second investment from Odeon Capital Partners, as well as investments from WaterView Partners, a private equity firm led by Frank Biondi and Richard Reiss; Advanta Partners; Israel Infinity Venture Capital Fund and Axiom Venture Partners.

DealTime.com said it will use the new financing for working capital, business development, and a marketing campaign to build brand awareness for the site.

DealTime.com offers a free and independent online shopping service that enables consumers to take advantage of the time-sensitive and price competitive nature of e-commerce.

DealTime.com searches the entire Web, including online retailers, auctions and classifieds, for the products consumers want at the prices they are willing to pay.

Consumers have the option to track pricing over time, and be alerted to new deals that match their product selections.

"DealTime.com acts as the quintessential intermediary between buyers and sellers and, as such, is really at the epicenter of e-commerce," said Senia Rapisarda, director of Nomura International plc. Technology Group.

"We're confident that the convenience and value DealTime.com offers will soon establish it as the preferred service among consumers who shop online."