Group Commerce, a company that provides publishers, media companies and brands with a versatile e-commerce platform, has raised just south of $21 million in new funding according to a regulatory filing that surfaces earlier this morning.
To date, Group Commerce had raised $18 million from investors like Spark Capital, Carmel Ventures, Lerer Media Ventures and “the father of MTV” Bob Pittman.
The company offers a white-label solution that lets local and national publishers, as well as brands, run their own group-buying websites and applications.
Group Commerce was co-founded by chairman David Rosenblatt, a former CEO of DoubleClick who went on to serve as president of Google’s global display ad business after its acquisition of the former company, along with other ex-DoubleClick employeees such as Jonty Kelt (CEO) and Andrew Glenn (CTO).
Just recently, the company expanded to Europe by acquiring Dealised’s European operations.
Group Commerce competes against white-label e-commerce solutions providers like Nimble Commerce and Tippr. Its clients include CBS, The New York Times, Thrillist, Active.com, DailyCandy and Boston.com.
We’ve reached out to the company to see if any new investors exchanged capital for equity, or if it was another inside round.
Update: the company has issued a press release after our post was published. There’s one new investor involved – Jafco Ventures – but the rest comes from prior backers.
Group Commerce says it has now raised more than $40 million.
On an amusing sidenote: it looks like the company had to re-file with the SEC after first indicating on the paperwork that it was raising $90,968,327.17 (instead of $20,968,327.17). Whoops!
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