By Bhavna Singh
Purch, a digital media firm which has a suite of technology content and eCommerce websites has raised a funding of $135 million to drive acquisitions.
Company’s Chief Executive Greg Mason said that the website mainly focuses on product reviews across more than 1,000 categories and target consumers who are in the final stages of research before making a purchase. The company also claims to have 100 million unique monthly visitors. Further he said 55% of Purch’s revenue comes from eCommerce, lead generation and performance marketing, with the remaining 45% coming from advertising.
The company in 2014 made a revenue of $100 million and has aimed to bring in more than $100 million by the end of 2015. As Mason confirmed the company is running profitable since 2012.
The present series C round of funding led by Canso Investment Counsel Ltd. ($16 billion Canadian portfolio group with extensive digital-media holdings) brings the company’s total funding to $175.5 million.
The tech company is based out of Ogden, Utah and has its offices across the U.S. and Europe. It plans to use the funding amount to finance acquisitions, growth and to buy out the earlier stage investors, as reported by WSJ.
The company was founded in 2003 as TechMedia Network, it has previously raised $40.5 million in three rounds from 3 investors namely Village Ventures, ABS Capital Partners and Highway 12 Ventures. Consumr, Buyerzone.com, BestofMedia Group etc are some of the 6 companies that Purch has acquired.