RealTime IT News

WebPartner Secures $5.25 Million in Venture Funding

WebPartner, a provider of Web-based "Real-time Competitive Intelligence" for e-commerce sites, said it has secured $5.25 million in Series B financing from Brookwood Financial Partners, Alpine Technology Ventures and several individuals.

WebPartner provides real-time alerts of competitive threats and opportunities, based on online store monitoring, channel performance and market intelligence.

"We are very pleased that savvy investors like Brookwood, Alpine, and our cadre of industry insiders believe in our business model, our management team and our potential for rapid growth," said Mark Bailey, chairman and CEO of WebPartner.

"We are convinced WebPartner has a great opportunity to grow and prosper in this rapidly emerging market category," said David Lane, General Partner at Silicon Valley-based Alpine Technology Ventures.

"Their first-to-market advantages make them a very attractive addition to our other e-commerce portfolio companies, which include Wine.com and MadeToOrder.com."

"We believe WebPartner will quickly establish its services as essential for anyone doing business in the e-commerce space," said Tom Trkla, chairman & CEO of Brookwood Financial Partners.

WebPartner, which unveiled its initial SecretShopper service in November, said it will announce two more related SecretShopper service offerings in January 2000, followed by a variety of complementary services.

SecretShopper is a 24/ 7 Web-based monitoring, problem-alert and benchmarking service that helps online merchants prevent the loss of customers due to inaccessible or slow-to-respond online stores.

WebPartner will also provide real-time market intelligence focusing on competitive pricing, product availability, and online buying influences such as user comments and perceptions about merchants and their goods and services.