Guidester Re-Launches as Searchandise, Raises $7.5 Million - Beverly, MA

Guidester, the Beverly-based provider of an e-commerce ad network for product manufacturers, announced on Tuesday that it has changed its company name to Searchandise Commerce and raised $7.5 million in its third round of venture capital, which was led by Cloquet Capital Partners, a Chicago-based private equity firm. Founded in New York in 2000, Searchandise offers paid-search and online merchandising services to it customers. The company has a marketing partnership with e-commerce software company ATG, which allows merchants using ATG’s e-commerce platform to integrate the manufacturer cost-per-click bids that Searchandise provides from its network. Other investors in Searchandise include DFJ Gotham, Wheatley Partners, Milestone Venture Partners, Inflection Point Ventures and Tim Draper.

http://www.searchandise.net/company.aspx?p=pressreleases&pr=2008_07_29