Friday, August 15, 2008

Venalytica seeks $1M to grow web search filter

By Mass High Tech Staff

Venalytica Inc.
Headquarters: Hudson
Employees: 2
Founded: 2008
Web: www.venalytica.com
E-mail: steve.bowler@venalytica.com
Phone: 978-618-3320
The Pitch: Venalytica is seeking financing to build out its product, create a market presence and establish a sales force and sales process.

PITCHING THE TECHNOLOGY
Venalytica’s product is called Venalytics, a patented, Web 2.0, multi-attribute method for ranking products, according to the Hudson-based startup. Rather than the current method of using search and filter, which can return uneven or zero results, Venalytica ranks what it says are the best matches to the user’s stated importance-to-purchase settings. Venalytica says it overlays its ranking system onto a client’s e-commerce website’s product selector function. The software allows a website operator to establish the categories and metrics that are important to its business. The system also provides analytics to monitor sales statistics, the company says. Its product can help online retailers sell products such as TVs, electronics, phones, appliances, autos and homes.


PITCHING THE PEOPLE

Who is on the management team? Steve Bowler, CEO, and Jon Fenner, CTO. Mike Gonnerman serves as the company’s CFO on a consultant basis.

Have executives been involved in a cashout prior to this venture? In 2000, Bowler started a company called ProductFactory Inc. The product lifecycle management software vendor merged with Agile Software Corp., now part of Oracle Corp., in 2004.

Who is on the board of advisers? Erik Heels, patent attorney and founder of Clock Tower Law, is on the company’s board of advisers. CFO Mike Gonnerman also doubles as an adviser, according to the company.


PITCHING THE BUSINESS

How much investment is being sought? Venalytica said it is seeking $1 million.

What partnerships, collaborations or affiliations are already in place? None.

List any federal or state grants, contracts or awards received: None.

What’s the market size being pursued? Venalytica estimates its market at $100 billion.

Who are the likely competitors, direct or indirect? The company lists product rating companies like Shopping.com Inc.’s Epinions.com, CNet Networks Inc. and DPReview.com Ltd.

Is the company profitable? No.