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.”