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Print Edition StoriesTuesday, May 4, 2010
Incentive Targeting brings in $2.35M in Series A round
By Mass High Tech staff
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Woburn-based Incentive Targeting has reported a $2.35 million first-round funding involving a mix of investors, including seed stage investor LaunchCapital LLC, multiple angel groups and executives in the grocery sector.
Incentive Targeting provides promotion systems for the retail grocery industry.
The Series A round was syndicated across eight angel investor groups, led by River Valley Investors of South Hadley, and including Walnut Ventures, Hub Angels, North Country Angels, Boston Harbor Angels, Northeast Angels, Granite State Angels and Boynton Angels.
“The breadth of this syndicate of angel groups is perhaps unprecedented in the New England angel community,” said Paul Silva, manager of River Valley Investors. “Aspects of our approach may become a model for future cooperation among angel groups investing in larger deals requiring a critical mass of domain expertise in the target industry.”
Incentive Targeting offers patent-pending technology in interactive Web-based applications that enable retailers to create, manage and measure the effect of targeted promotional campaigns. Last month, the company reported that Big Y supermarkets had rolled out a targeted shopper program based on Incentive Targeting’s technology.
In 2008, Incentive Targeting won the graduate track of Babson College’s business plan competition.
The executive team includes serial entrepreneur and CEO Win Burke.
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