A visual commerce technology provider is picturing a bright future ahead with its latest round of funding.
Curalate has raised a $27.5 million Series C round of funding. Top500Guide.com data shows that Curalate is the social media marketing vendor for five retailers in the Internet Retailer 2015 Top 1000.
This latest round of funding, announced Thursday, was led by a venture capital firm familiar with Curalate, New Enterprise Associates. According to CrunchBase, New Enterprise participated in the company’s June 2014 $8.6 million funding round and its $3 million Series A round in June 2013. This brings the total amount of funding raised by Curalate to just shy of $40 million according to CrunchBase.
“Curalate has built the leading platform for capturing today’s visual consumer, and this funding gives us the fuel to create tomorrow’s innovative marketing solutions,” Curalate CEO Apu Gupta said.
The company didn’t specify its plans for its latest round of funding. Curalate’s sweet spot lies in social media, including blogs and online social networks. For example, in November it released Curalate Reveal, a tool that lets brands embed links into videos on their blogs, so that a shopper can click on an item in the video to buy it. The company also provides technology that recognizes images on such photo-heavy social networks as Pinterest, Tumblr and Instagram, enabling brands to promote products consumers are discussing on those websites.
Curalate says it works with about 800 brands including retail heavyweights such as office supplies retailer Staples Inc. (No. 4 in the Top 500), upscale retail chain Neiman Marcus (No. 43) and apparel retailer J. Crew Group Inc. (No. 52).
Curalate was the second major investment this week for New Enterprise Associates. On Tuesday, lingerie e-retailer ThirdLove announced that the venture capital firm was the lead investor in its $8 million Series A round.