Branders.com acquires $5 million in venture funding
World’s Leading Promotional Items Company Offers Lowest Prices by 20 Percent, Experiences Rapid Growth Despite the Global Recession
SAN MATEO, CA–(December 2, 2009) – To fuel its continuing growth as the low-cost leader in the massive promotional items marketplace, Branders.com, the world’s largest online seller of promotional items, today announced that it has received an additional $5 million in venture funding. The profitable company, which has raised $46 million in venture capital to date, has secured this funding from four leading firms, Menlo Ventures, DCM, Venture Strategy Partners (VSP) and Altos Ventures, all of whom are returning investors.
“Branders.com pioneered the online promotional marketplace, and is now growing it by offering the lowest prices imaginable, online or off,” said H. DuBose Montgomery, Managing Director, Menlo Ventures. “Customers have really responded to their value proposition. We are pleased to continue investing in Branders.com’s success.”
In 2008, the promotional items marketplace reached $18.1 billion, according to the Promotional Products Association International (PPAI), which has also seen continued growth in this industry despite the global recession. Branders.com, which is ten years old, was the first promotional item company to sell online and has built a base of more than 100,000 customers, including The White House. The company offers products at prices that are about 20 percent less than their competitors.
“This has been an incredibly satisfying year for the Branders.com team. As the low cost leader, we’ve been able to help more companies than ever achieve their marketing and retention goals within extremely tight budgets,” said Jerry McLaughlin, co-founder and CEO, Branders.com. “We are proud of our industry-leading customer retention rates and are committed to bringing our clients the best possible products at the most competitive prices. We thank our investors for their continued support and look forward to introducing many innovative new products and services in the years to come.”
Branders.com is the world’s largest online seller of promotional items. Over 97 percent of Fortune 500 companies have turned to Branders.com because of the company’s unmatched low prices, speedy service and high-quality products. By ordering online, companies also benefit from accurate item previews, up-to-the-minute order statuses and 24/7 support. For more information and to browse thousands of promotional item choices, please visit www.branders.com.
Source: Market Wire