Rearden Commerce, which has been focused on creating a Web-based personal assistant that lets you manage calendars and make travel arrangements online, said today it has raised $100 million in venture capital from high-profile investors JPMorgan Chase & Co., American Express, Oak Investment Partners and Foundation Capital. The Foster City, Calif.-based company said the funding will be used for expanding services and development plans due to the popularity of its services. It said part of its growth includes moving into the consumer space, however, VentureBeat is reporting that means that Rearden will enter the mobile space, with what is being characterized as a “major offensive,” to be announced at the end of this month. Release.
Other details VentureBeat reported include that Rearden is likely to make a big mobile advertising play, claiming it can offer advertisers detailed information about where people are and other details about them. The company expects to add 200 employees for a total of 500 by the end of the year. It will be interesting to see how well Rearden manages this transition. It reminds me of Facebook’s Beacon service. Although Rearden doesn’t say it’s going to share a person’s preferences with others — like Beacon — it will be interesting to see how people feel about their “personal assistant” leaking information about their whereabouts to advertisers.