“Their support and guidance has served us well over the past 3 years and we look forward to continuing that relationship as we jointly address one of the most exciting areas in Web technology – the personalization of websites for every individual.”
Austin, TX (PRWEB) February 19, 2010
7 Billion People, Inc., a provider of behavioral software for automatic personalization of e-commerce websites, today announced the closing of substantial additional go-to-market funding. California-based investment firm Heritage Equity Group, LLC, the original investor in 7 Billion People, led this round of funding.
“As the first institutional investors in 7 Billion People, Heritage has shared the vision of the dynamic web since the company’s inception,” said Ryan Bowers, Founder and Managing Principal at Heritage Equity Group, LLC. “Since then, some of the biggest names in e-commerce have used the company’s products, with some remarkable successes. With this investment, we are further demonstrating our belief in the company’s vision and products.”
7 Billion People is the developer of MarketMaestro behavioral analytics software. MarketMaestro goes beyond traditional analytics by using the science of linguistic psychology to determine not just what, but why, visitors do what they do on the site. 7 Billion People also provides WebLegend, software that dynamically adapts the view of a webpage based on the website visitor’s behavioral preferences, in real-time. Use of this software on e-commerce websites has resulted in sales increases of over 40%.
“We are excited that Heritage has chosen to increase their investment in 7 Billion People,” said Mark Nagaitis, Chief Executive Officer. “Their support and guidance has served us well over the past 3 years and we look forward to continuing that relationship as we jointly address one of the most exciting areas in Web technology – the personalization of websites for every individual.”
As part of this investment, Ryan Bowers and Jeffrey LaBerge, both of Heritage Equity Group, LLC, will join existing board members Mark Nagaitis and Richard Marcus on the 7 Billion People, Inc. board.
About Heritage Equity Group, LLC and Heritage Opportunity Fund, LLC:
Heritage Equity Group, LLC (HEG) is a San Diego based boutique private equity and venture capital firm that provides acquisition and growth capital to middle market companies, primarily in the Life Sciences, Energy and Software industries. Through its funds, HEG seeks to partner with and invest in businesses that are leaders in their industry or niche, have a proven track record for success and are run by seasoned management. With extensive funding options from both proprietary funds and a strong network of external institutional partners, HEG can move quickly to capitalize on opportunities.
Heritage Opportunity Fund, LLC (HOF) is an independent, private equity and venture capital fund formed in 2007 to invest in lower middle market companies seeking growth or expansion capital. HOF maintains an opportunistic investment mandate and evaluates companies at all stages of development, from start-up companies to publicly traded growth companies lacking access to public capital.
About 7 Billion People:
7 Billion People, Inc. is a provider of software products that increase e-commerce conversion rates within days of implementation. Using behavioral science and linguistics, our software provides e-commerce marketing teams with new insight into how their customers behave. Using this new insight, we deliver behavioral analytics that make an immediate impact (MarketMaestro) and dynamically modify content in real-time (WebLegend). 7 Billion People, Inc. was founded in 2006 and is located in Austin, Texas. http://www.7bpeople.com .