Gleanster Raises Additional Funding, Announces Growth Plans for 2011

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Secondary investment follows successful beta testing period

We’re excited to continue to work with an outstanding leadership team in building a company that delivers unprecedented value to both industry practitioners and technology solution providers.

Gleanster today announced that it has secured a secondary round of funding from Synetro Group, a Chicago-based private investment firm focused on building business services companies. The additional investment, the amount of which was undisclosed, will be used by Gleanster to scale its business operations, make several strategic hires and engage in various marketing and brand-building activities through the first half of 2011.

Gleanster is a market research firm that benchmarks best practices in technology-enabled business initiatives. The firm’s business model is such that industry practitioners can download the research for free. Initial coverage areas include Marketing, Voice of the Customer and Business Intelligence. Gleanster’s research team includes former principal analysts from Forrester Research, McKinsey & Company and Aberdeen Group as well as former executive editors from CIO, 1to1 and BtoB magazines.

The investment comes on the heels of a successful beta testing period in Q4 2010 in which thousands of registered users participated. "The beta test helped us refine the features and functionality of our website and gain a deeper understanding of how our community members wish to interact with our unique brand of benchmark research," said Jeff Zabin, Gleanster’s CEO. "We’ll continue to collect user feedback even as we build out the content library and begin execution of the full pilot launch."

"Gleanster has made enormous progress in a short amount of time," said Pantelis A. ("Pete") Georgiadis, the CEO of Synetro Group, which also led Gleanster’s seed round, in June 2010. "We’re excited to continue to work with an outstanding leadership team in building a company that delivers unprecedented value to both industry practitioners and technology solution providers, many of which have already engaged Gleanster’s services."

Among these is Saepio, a leading provider of distributed marketing management solutions. "The breadth and depth of Gleanster’s capabilities made the decision to sign up for a multi-project engagement an easy one," said Stephen Tucker, senior vice president at Saepio.

"We couldn’t have hoped for a better partner than Synetro Group," said Zabin. "The firm has been instrumental in helping us fine-tune our business model and achieve a number of early successes, contributing in ways that go well beyond that of a traditional venture capital role. The strategic guidance that Synetro has provided has been truly invaluable in laying the foundation for our future growth."

About Gleanster
Gleanster is a market research firm that benchmarks best practices in technology-enabled business initiatives. Gleanster generates actionable insights that allow companies to make smart business decisions and match their needs with vendor solutions. The research, which draws from the experiences of tens of thousands of industry practitioners, is predicated on four guiding principles: specificity, objectivity, brevity and clarity. Gleanster ascertains how Top Performers achieve their desired business objectives — and how Everyone Else can, too. For more information, please visit http://www.gleanster.com.

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Sarah Tebbe

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