Website Content & ExperienceSidecar to Expand Technology with the $8 Million in Series B Funding

Sidecar, an award-winning e-commerce technology provider that programmatically matches products to consumers has completed an $8 million Series B round of funding. The round was led by Boston-based firm Ascent Venture Partners, and saw participation from other existing and new angel and institutional partners, including Osage Venture Partners. Over the last three decades, Ascent has already made a name for itself backing emerging technology companies and driving innovation in the market.

The funding will help Sidecar build technologies that will lead to a further optimization of product advertising channels. These channels have increased in popularity since the introduction of Facebook Dynamic Products Ads and Google Shopping. The company also plans to raise its spending on marketing and sales to meet the growing demand for its technology solution.

Andre Golsorkhi, Founder and CEO, Sidecar, elaborated, “We made the decision to raise this round of capital and bring Ascent Venture Partners on board because we saw the opportunity to scale our team and expand our technology quickly to keep pace with the rapidly accelerating demand for Sidecar’s technology. Sidecar’s growth is due in large part to our focus on creating technology that enhances product-level advertising campaigns, at a time when product ads are taking over e-commerce marketing.”

The funding comes on the heels of what has been a tremendous year of growth at Sidecar. The company has doubled its employee base and signed on almost thrice as many new customers as compared to 2014. According to a release, the company has been named as a 2015 Gartner Cool Vendor, and has won the 2015 Start-up Technology Company of the Year award at the PACT Enterprise Awards.