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Advertising platform BuyWithMe.com has received $5.5 million in funding from venture capital firm Matrix Partners, the company said Wednesday.
Boston-based BuyWithMe.com plans to use the cash to scale operations. Under terms of the deal, Nicholas Beim, general partner with Waltham-based Matrix Partners, will join the company’s board of directors.
BuyWithMe.com works by allowing consumers to purchase goods and services such as flowers for Valentine’s Day or massages at a sale price as long as enough people sign up for any given deal. The website aims to be a cost-effective way for companies to market their products and get new customers. BuyWithMe.com currently works with merchants in three markets: Boston, Washington, D.C., and San Diego.
“BuyWithMe is off to a very rapid start,” said Beim. “The company has developed a strong following among consumers and merchants in multiple cities and has an impressive vision for future growth.”
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