The Indianapolis tech sector continues to attract major investment. SmarterHQ says it has closed on a $13 million round of funding, led by Boston-based Spring Lake Equity. The company, which creates individualized campaigns for retailers including Bloomingdales and Eddie Bauer, says the funding will help expand sales and marketing efforts as it looks to move into the travel and hospitality markets. Simon Venture Group and Battery Ventures also participated in the investment.
Since 2014, SmarterHQ says it has raised more than $33 million in venture financing.
Spring Lake Equity Managing Partner Bob Forlenza says the firm is "truly impressed not only by the nationally-recognized brands that utilize SmarterHQ’s technology, but also by the astounding results the company is able to consistently provide for its clients."
SmarterHQ says it has already begun working with auto company CarRentals.com as well as a financial services company as it aims to grow into new markets. Chief Executive Officer Michael Osborne says Spring Lake Equity’s "reputation and experience in the space will be critical to our success as we begin to apply real-time personalized campaign automation to new industries."
Other SmarterHQ clients include Kate Spade, Indianapolis-based The Finish Line Inc. (Nasdaq: FINL) and GNC.