Closes $32 Million Third Round; Got In Before The Bust

Visual search and shopping engine closed a third round of funding worth $32 million, VentureBeat reports. Luckily for Palo Alto, Calif.-based, the round officially closed at the end of July, well before the market went belly up. Menlo Ventures led the funding, with Crosslink Capital and other previous investors also joining. The engine has raised a total of $54.4 million since its inception (as Riya) in 2004, including $3.3 million in a supplemental round led by Nokia (NYSE: NOK) Venture Partners, Bay Partners and Leapfrog Ventures in January. The cash should give a good cushion if its shopping-focused model takes a hit from a slowdown in consumer spending.


Comments have been disabled for this post