NewSpring Capital, a family of private equity funds, announced today that NewSpring Growth Capital, the firm's dedicated technology and business services growth equity fund, has invested $13 million in a minority financing in SiteSpect, Inc. ("SiteSpect"). This represents the fund's sixth deal of 2014 as a closing was held on December 29, 2014.
This is the first-ever outside funding received by the A/B and multivariate testing provider that incorporated in 2004. Since its founding, SiteSpect has been a recognized leader with its unique SaaS-based optimization technology that enables marketers, product managers and developers to test and optimize the entire digital user experience and increase revenue. Backed by a strong executive team and unique, patented technology, SiteSpect provides the only true enterprise-grade A/B and multivariate testing platform to the world's largest and most successful online brands.
"We are doubling down in our commitment to being the world leader in advanced testing and are delighted to partner with NewSpring Capital," said SiteSpect CEO and Founder, Eric J. Hansen. "This investment positions us to cement our leadership position within the rapidly growing space of testing and optimization."
"SiteSpect provides a real opportunity for enterprises to increase revenue and conversion rates through testing and optimization," said Glenn Rieger, NewSpring General Partner and newly added Member of the SiteSpect Board of Directors. "Their highly differentiated technology is used by many of the best known brands in the world including Walmart, Urban Outfitters, Wayfair and major financial services and media companies. Only SiteSpect enables companies like these to test every part of their site, from how it looks to how it works by enabling them to run more tests in less time with measurable results."
SiteSpect, based in Boston, MA, provides the world's most comprehensive digital optimization platform, enabling the world's largest and most successful online businesses to significantly improve conversion rates and revenue. SiteSpect's offerings include A/B testing, multivariate testing, targeting and personalization, mobile optimization and site speed solutions. For more information visit, www.sitespect.com or call +1 617-859-1900.