Polaris commits $8m to Profitero

The company will direct the funds towards a recruitment drive, aiming to double its existing headcount of 40. Protero will also use the funding to boost global expansion, primarily in the US.

As part of the transaction, Irfan Salim, previously CEO of former Polaris portfolio company MarkMonitor, has joined the firm's board of directors.

Previous funding
In 2011, Delta Partners injected €750,000 into the company via the Bank of Ireland Startup and Emerging Sectors Equity Fund, which is managed by Delta on behalf of the Bank of Ireland. Enterprise Ireland also participated in the round, according to unquote" data.

Company
Founded in 2010 and based in Dublin, Profitero provides brick and mortar retailers and e-commerce vendors with competitors' prices, promotions and product assortment information. The company counts more than 50 global retailers among its client base, including Staples, Waitrose and Ocado.

People
Noel Ruane, venture partner, led the deal at Polaris.

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• Topics
• UK / Ireland
• Technology
• Expansion
• United Kingdom