BEST Funds, a partnership between Toronto-based private equity/venture capital firm’s B.E.S.T. Active 365 Fund LP and Tier One Capital LP, is investing $3 million into GroupBy Inc.
GroupBy is also based in Toronto and provides commerce, media and knowledge management software solutions to help companies connect with customers with improved features for search, navigation, merchandising, search engine optimization (SEO), and search as you type (SAYT).
“GroupBy is poised to become a market leader in the e-commerce space and is the type of company that can do great things with our assistance,” said BEST Funds’ president John Richardson. ”We are confident that with our capital, and their unique cloud offering and e-commerce pedigree, GroupBy will continue to grow at an extraordinary pace.”
GroupBy will use the funds to accelerate its sales growth and expand research and development efforts in technologies for the B2C and B2B e-commerce market.
“The team here at GroupBy has used their many years of industry experience and technical prowess to create a platform that will change the way our clients interact with their clients online,” said Roland Gossage, managing director and CEO of GroupBy Inc. “We aim to create a fundamentally better user experience by showing the right product, to the right user, at just the right moment. We create a concrete return on investment and help to drive our customers’ bottom lines.”
