BizRate.com, a provider of merchant ratings
and information to help shoppers buy confidently online, has secured $20
million in second-round financing.
Venture capital firm Attractor led the second-round financing, which also
included Hambrecht & Quist and strategic investors.
Mission Ventures and Media Technology Ventures, which provided first-round
financing, continue funding BizRate.com.
The new financing will fund a national advertising campaign and accelerate
the development of enhanced site features, the company said..
“BizRate.com sits at a critical point in the online buying process and is
trusted by both online buyers and merchants,” said Danny Rimer of Hambrecht &
Quist. “We’re very pleased to invest in this increasingly powerful player in
the e-commerce arena.”
“This additional funding will allow BizRate.com to build on its position as
the nationally recognized trustmark for safe, efficient e-commerce, inspiring
confidence in consumers and helping bring e-commerce to the mainstream,” said
Farhad Mohit, president and chief executive officer of the company.
BizRate.com collects direct customer feedback and transactional information
on e-commerce purchases. These buyers represent more than 20 percent of all
online retail commerce. Using the data, BizRate.com provides merchant ratings
and information to help shoppers.
