NXT Capital Venture Finance Provides $4.5 Million of Growth Capital to MyBuys
REDWOOD CITY, Calif., October 17, 2013-- NXT Capital’s Venture Finance Group today announced the closing of a $4.5 million subordinated venture loan to MyBuys, a leading provider of Customer-Centric Marketing solutions for retailers, e-commerce sites, brands and agencies. MyBuys will use the capital to drive further expansion initiatives.
Organizations using MyBuys gain enormous competitive advantage by applying the power of cloud computing and big data toward omni-channel marketing. For the first time, they are able to conduct coordinated, personalized conversations with consumers across devices and channels. Consumer communications through display advertising, email and on web sites become seamlessly connected, providing an unprecedented level of engagement in all messages and offers – whether the consumer is shopping on their desktop, laptop, tablet or mobile device. The end result is up to 10 times better financial results than possible without MyBuys personalization.
“As we considered financing options, we wanted a partner that had the flexibility to fit within our existing capitalization structure, as well as the capacity to provide additional financings to support our growth as demand for our customer-centric marketing platform continues to rocket,” said Robert Cell, Chief Executive Officer, MyBuys. “NXT Capital Venture Finance took the time to work closely with us to structure a facility that satisfied our needs. The team at NXT demonstrated great care in learning about our solutions and competitive differentiation.”
“We are excited to be working with MyBuys,” said Peter Fair, Managing Director, NXT Capital Venture Finance. “Retailing on the web has changed consumer habits and the way retailers, brands and agencies interact with those consumers. Understanding the unique behavior of each consumer and using this to optimize every interaction drives significantly higher engagement, satisfaction and revenue. The MyBuys team has developed a complete solution on a unified platform that binds together personalized display advertising, email and web sites for the most successful customer-centric marketing experience. MyBuys is a great addition to our portfolio and we are excited to play a role in their continued success.”
About NXT Capital Venture Finance: NXT Capital Venture Finance serves entrepreneurs by providing less dilutive, more flexible forms of capital. With offices in Boston and Silicon Valley, NXT Capital Venture Finance offers senior and subordinated term loans in the $1 million to $20 million range to emerging growth companies backed by venture capital and private equity firms, particularly those in the technology and life science sectors. Target clients range from pre-revenue companies led by dedicated entrepreneurs to late-stage, proven businesses seeking more efficient growth capital. For more information, see www.nxtcapitalvf.com.
About NXT Capital: NXT Capital provides structured financing solutions to middle-market and emerging growth companies, as well as real estate investors, through its Corporate Finance, Equipment Finance, Venture Finance and Real Estate Finance groups. Based in Chicago with offices in New York, Atlanta, Boston, Charlotte, Dallas, Phoenix, San Francisco and Silicon Valley, NXT Capital targets senior financing opportunities up to $150 million with a hold size up to $50 million. See www.nxtcapital.com for more information.
About MyBuys: MyBuys is the leading customer-centric marketing provider for retailers, consumer brands and agencies. MyBuys leverages the power of cloud computing and big data to maximize the effectiveness of digital marketing spend, today managing more than 250 million unique consumer profiles for more than 400 leading retailers and consumer brands. MyBuys is based in Silicon Valley, California, with offices in Ann Arbor, Michigan, New York, and London. Visit www.mybuys.com for more information.
Downloadable Venture Capital Database