Marketworks announced it has secured an additional $7 million of equity financing that it will use to accelerate product development initiatives and international expansion. The financing was led by new Marketworks investor, Council Ventures, a Nashville-based venture capital firm. Several existing investors also participated in the round including San Francisco-based Crosslink Capital, which led Marketworks first institutional round of equity financing. This brings the total financing to $15 million, including this round.
"We are delighted with the confidence and excitement both our new and existing investors have demonstrated," said Marketworks President and Chief Financial Officer, Doug Hadaway.
Marketworks has recently expanded its geographic and multi-channel capabilities, enabling merchants to quickly access millions more buyers from the Marketworks platform. "The additional financing will greatly accelerate these and other strategic initiatives currently underway," Hadaway said.
Marketworks enables over 4,000 merchants in 37 countries to sell to hundreds of millions of shoppers across a number of online marketplaces, search engines, and shopping comparison channels from a single platform. It is an eBay Certified Solutions Provider, and earlier this month it announced its integration with Overstock.com Auctions.
