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DELRAY BEACH, FL -- (Marketwired) -- 02/07/14 -- LB Merchant, an affiliate of Littlebanc Advisors, LLC, is pleased to announce the completion of a $2.6 million investment in HiConversion, Inc., Littlebanc's third investment in the company. HiConversion provides a patented e-commerce revenue optimization software platform that uses real-time optimization to provide sustainable revenue lift for clients. The $2.6 million financing will allow HiConversion to expand its sales and marketing operations to support the company's rapid growth.
"HiConversion has continued to gain traction as a category leader in the conversion rate optimization space. This investment will enable HiConversion to support its growth by expanding sales and marketing channels. We are pleased to announce that this is our eighteenth transaction, and Littlebanc remains committed to funding high-quality, high-growth companies." -- Michael Margolies, CEO, Littlebanc Advisors, LLC
About HiConversion, Inc.
HiConversion, Inc., founded in 2006, is an innovative technology company providing a disruptive Conversion Rate Optimization software solution ("CRO") that enables e-commerce providers to quickly and economically increase the conversion rate of existing web traffic into online sales. Using statistical analysis and mathematical modeling, HiConversion allows online retailers to quickly increase page conversion rates in real-time, and, as a result, increase revenues and decrease online marketing costs. HiConversion's patented virtual integration capabilities eliminate adoption complexities and make it possible for e-commerce companies to point-click-and-optimize without dependency on the availability of IT resources. The adaptive optimization engine eliminates risk of testing while delivering maximum ROI at all times.
The company is led by Dr. Zee Aganovic, a successful serial entrepreneur and expert in the field of optimization theory, whose previous ventures were acquired by Ricoh and Microsoft.
"We turned to Littlebanc for a third time because they understand the unique capital needs of smaller companies. Littlebanc's management team was again a dedicated advisor throughout the capital raising process, and their high level of professionalism ensured that we could quickly meet our funding needs. This round of financing will allow HiConversion to accelerate its sales and marketing efforts so we can expand our current software offerings." -- Dr. Zee Aganovic, CEO, HiConversion For more information, visit www.hiconversion.com.
About LB Merchant, LLC
LB Merchant, LLC, an affiliate of Littlebanc Advisors, LLC, is a merchant bank that invests in small, high-quality growth companies. LB Merchant invests the firm's own capital along with capital from select Limited Partners and takes an active approach with its portfolio companies to assist them in realizing their potential.
For more information, visit www.lbmerchant.com. If you're interested in working with Littlebanc Merchant as an accredited investor or entrepreneur, please contact us at 561-922-3700 to speak with one of our Managing Directors or email us at info@littlebanc.com.
About Littlebanc Advisors, LLC
Littlebanc Advisors, LLC has perfected the art of raising small tranches of capital for growth companies. Littlebanc Advisors acts as agent and advisor in traditional investment banking transactions that it conducts on behalf of its clients. As potential banking clients and merchant investments, we target compelling companies with proven business models that are on the cusp of breakout revenue and profitably but require growth capital to get them there. These earlier stage companies are typically passed over by both traditional investment banking and private equity. By focusing on this underserved yet larger market, we unearth a greater number of less competitive opportunities with higher potential returns. For more information, visit www.littlebanc.com.
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