NextStage Adds Fourteenth Portfolio Company
NextStage Capital Adds SideCar as Newest Portfolio Company
PHILADELPHIA, PA – October 31, 2011 – NextStage Capital, an early stage venture capital fund focused on investing into technology companies located in the Mid-Atlantic region, announced that it has invested into Sidecar. The $2.5M Million Series A Preferred Equity round financing was oversubscribed and NextStage is the second largest investor.
Headquartered in Philadelphia, Pennsylvania, Sidecar is the first-ever 100% automated online marketing platform for ecommerce companies. Sidecar automates four key components of online marketing – Paid Search, Comparison Shopping, On-site Personalization and Personalized Email – to make completely data-driven marketing decisions for online retailers through a single platform.
“Sidecar has done a terrific job of pivoting their business since we first met with them eighteen months ago”, said Dan McKinney Managing Partner at NextStage Capital. “Andre and his team of passionate entrepreneurs has built a strong, top-line driven value proposition for an extremely large and growing market segment – the online retail industry”. SideCar’s founder and CEO Andre Golsorkhi commented, “We’re excited to have closed this investment round with such experienced investors and entrepreneurs. Sidecar is revolutionizing the way online retailers market their businesses on the Internet and this funding gives us the opportunity to expand our reach and grow the business."
About NextStage Capital
NextStage Capital, L.P. is a seed and early stage venture capital fund focused on investing in undiscovered software and hardware technology and/or services companies in the Mid-Atlantic region. NextStage Capital's investment approach is to find entrepreneurs with solid track records who offer a unique and powerful value proposition to customers in growing market sectors. For more information on NextStage Capital, please visit: www.nextstagecapital.com.
